Prince Albert’s housing shortage gained a modest boost this week with the completion of a new family home and basement suite developed by Riverbank Development Corporation in partnership with Saskatchewan Housing Corporation.
The two-unit property, located on long-held Riverbank lots, includes a three-bedroom home upstairs and a two-bedroom suite below. Both were rented the moment construction wrapped up, underscoring what Riverbank general manager Tina Dickson described as the city’s “very, very high need for housing.”
“These units aren’t hard to rent,” Dickson said. “Families are moving in right away, and we see that every time we finish a project. The demand is there.”
Dickson estimated the build cost at between $450,000 and $500,000 per unit. She credited strong partnerships with organizations such as KidsFirst, Family Futures, NCC, and local housing support workers for ensuring referrals and steady occupancy.
Affordable housing remains a priority under the National Housing Strategy, a federal plan. Launched in 2017 and backed by billions in investment through agreements with provinces and territories. Saskatchewan and Canada signed a 10-year, $585-million bilateral deal in 2019 to expand housing options across the province.
In Prince Albert, officials have acknowledged a significant shortfall in affordable rentals, with recent city reports pointing to the need for dozens of new units in the coming years. While Riverbank’s projects contribute to that target, other proposals face hurdles. The boarded-up Nisbet Apartments on 13th Street West, for example, remain in limbo as it’s owners seek relief from more than $250,000 in tax arrears to finance a 30-unit renovation.
Dickson said this latest project is Riverbank’s last for now until new applications are approved but added that the corporation intends to pursue further builds.
For families already moving in, the completion of these units represents more than statistics; it’s a rare chance to secure affordable housing in a city where demand far exceeds the available stock.
The federal and provincial governments provided a combined $750,000 in funding for the project through the National Housing Strategy (federal) and Saskatchewan Priorities Initiative (provincial). The City of Prince Albert also chipped in $20,000, and Conexus Credit Union Mortgage Financing contributed $330,000.
“The River Bank Infill Solutions project we are announcing today will make a real difference for people here in Prince Albert,” Secretary of State (Rural Development), and Member of Parliament for Desnethé–Missinippi–Churchill River Buckley Belanger said in a press release.
“With every project like this one, we are getting closer to the country we want – one where everyone has a safe, affordable place to call home.”
“We are very proud to open four new affordable homes in Prince Albert, giving more families a safe and accessible place to live,” Social Services Minister and Minister Responsible for Saskatchewan Housing Corporation (SHC) Terry Jenson added. “This project is about expanding access to housing, strengthening communities and giving families the opportunity to thrive in a place they can call home.”
