BONNYVILLE – The Town of Bonnyville is paving the way for new housing development with a suite of incentives designed to encourage growth and investment.
The Housing Incentives focus on three specific targets: Single Family Home Builders, Single Family New Homeowners, and Multi-Family Dwelling Buildings.
Single-family home builders will receive $25,000 for each new home they construct. New homeowners building a single-family home will benefit from municipal property tax reductions—100% in the first three years, 75% in year four, and 50% in year five. Builders of multi-family dwellings will also receive $10,000 per unit built.
Bonnyville’s recent growth, roughly 14 per cent since 2020, has significantly reduced the availability of rental properties. Home sales within the past 12 months were at their highest since 2014.
Town of Bonnyville Mayor Elisa Brosseau explained the Housing Incentives are benchmark-setting.
“The Town is already experiencing some growth challenges in the rental market,” she detailed. “Additionally, with the expected growth regionally in the coming years, we want the Town positioned to capture as much of that growth as possible. The Housing Incentives, combined with our commercial incentive program, are industry leading and puts the community on a path to see substantial growth in the next few years.”
The Housing Incentive Program has a maximum budget of $500,000. It is done on a first-come, first-serve basis. Council will look at the program each Budget Season.
For more information, contact:
Mark Laver
Economic Development Officer
780.826.3496