More than $3 million of federal/provincial money was granted on Friday to turn a downtown Red Deer hotel into affordable housing.
The Coronation Hotel on Ross Street received $3.3 million to be converted by Sunreal Property Management into 30 one-bedroom suites and three two-bedroom suites. Five of the 33 units will be accessible to people in wheelchairs.
Frances Ding, of Sunreal, could not be reached late on Friday.
But Parker Hogan, a spokesperson for Alberta Municipal Affairs, said the project is for people with low to moderate incomes.
He wasn’t sure when the renovation will be completed.
The joint Canada-Alberta cost-share investment was allocated to the hotel at 4707 Ross Street as part of a $121 million commitment over three years. The 2011 / 2012 commitment is for more than $40.6 million for nine projects to provide 408 more affordable housing for lower-income and homeless Albertans.
The cost-sharing grants are issued through the Housing Capital Initiatives Program, which supports housing partnerships that leverage the resources of municipalities, the federal government, non-profit organizations, housing management bodies, and the private sector.
