Calgary city councilors are being presented with three funding options to address the city's affordable housing crisis.The briefing note outlines annual investment requirements of $93 million, $214 million, and $526 million for maintaining the status quo, increasing non-market housing units, and meeting the target of 3,000 new non-market homes per year, respectively.The $526 million option would acquire 30 development sites and house 7,800 residents.

City officials emphasize the need for consistent municipal funding to unlock support from provincial and federal governments, as well as private and non-profit sectors.Councilors debate whether affordable housing falls under municipal jurisdiction, with some questioning the financial burden on taxpayers.Rising costs per unit due to land prices and project maturity are cited as challenges.

Experts argue that municipal investment is critical to avoid a prolonged affordability crisis, as lack of investment could stall non-profit housing development and exacerbate homelessness and healthcare costs.