Developers putting up new commercial or multi-unit residential buildings in Prince Albert can now qualify for a tax incentive program designed to spark investment and ease the city’s housing shortage.
Approved by City Council on July 21, the program offers a four-year, declining-scale municipal tax abatement for projects approved after that date. Qualifying developments will receive a 70 percent tax reduction in the first year after construction is complete, followed by 50 percent in the second year, 30 percent in the third, and 15 percent in the fourth. Full taxation will return in the fifth year.
Mayor Bill Powalinsky called the decision a bold step toward supporting growth and addressing housing needs.
“Whether in a new neighbourhood or an established one, we want to send a clear message: we welcome investment and are prepared to partner with developers to help make it happen,” he said in a city release.
The incentive applies across all areas of the city and covers both new commercial buildings and residential projects with five or more units. It follows a recent Housing Needs Assessment that found a significant shortage of available housing in Prince Albert.
The program aims to encourage more multi-unit construction and expand the city’s commercial tax base, helping to balance future growth with economic stability.
City administration says the goal is to attract long-term development while supporting ongoing discussions around housing density and land-use planning. Council has also been reviewing a Four-Units-as-of-Right proposal that could simplify zoning for higher-density residential projects, an initiative this new tax measure could complement.
More details on eligibility and the application process are available at citypa.ca/grow.
