Alberta’s government continues to support recovery efforts in Jasper and is helping residents return to the community with $112 million in funding for interim housing.

Alberta’s government continues to support recovery efforts in Jasper and is helping residents return to the community with $112 million in funding for interim housing.

Alberta’s government is committed to ensuring Jasper residents are supported as the community recovers from the summer’s wildfire. To support rebuilding efforts in Jasper, government is committing $112 million to build interim housing for displaced Jasper residents and residents of Pine Grove Senior Citizens Manor.

Work on the sites in Jasper has already begun, and the first residents are expected to begin moving in as early as January 2025. Homes in Jasper will be available for essential service workers and support service workers, and other eligible Jasper residents who lost their homes and are employed in the area. Alberta’s government will ensure that interim homes are ready for eligible residents as quickly and efficiently as possible.

“Our entire country grieved when wildfire ravaged Jasper this past summer. We know the rebuilding process takes time, and we’re doing all we can to support Jasper’s recovery. Most of all, people want to return home, and the funding we have approved will speed up that process so folks can rebuild their lives and move forward sooner.”

“We know that Jasper residents are eager to get back home and Alberta’s government is committed to ensuring they have the supports they need throughout this rebuilding effort. When ready, these interim homes will address the immediate housing need in Jasper and provide a short-term housing option for those who are working in the town doing the critical work needed to support this rebuild.”

To support the interim housing needs of Jasperites, the government is supporting the construction of modular homes. It is estimated that this portion of the provincial funding will build 250 modular homes for eligible displaced Jasper residents. Modular homes are constructed off-site, in a controlled environment, to allow for all-season construction and accelerated schedules. They are installed using permanent foundations that ensure the safety and comfort of the occupants.

Interim housing units in Jasper will be provided at market rent, and applications and eligibility details will be released in the future. Units in Jasper will be sold at market value when they are no longer required for interim housing for Jasper recovery.

“This interim housing is a much-needed step forward in getting the community of Jasper back on track and getting people into homes. Alberta’s government will continue to work with the town and our partners to restore Jasper as quickly as possible.”

“On behalf of the people of Jasper, I extend our sincere gratitude to the Government of Alberta for their critical support in funding interim housing as we work to rebuild Jasper. This housing isn’t just about the buildings, it’s directly linked to our social and economic recovery including the mental well-being of the community as a whole.”

Alberta’s government is also supporting the residents of Pine Grove Manor with interim housing in Hinton. Pine Grove Manor was destroyed by the fire and this interim housing will keep residents close to their community while the seniors home is rebuilt. Up to 25 units of modular housing will be built for seniors in Hinton on a site that was given to the project by the Town of Hinton. These units in Hinton will later be used as affordable housing for the community. Work on these sites is expected to begin in January and the first seniors are expected to begin moving in as early as April 2025.

“The Evergreens Foundation is proud to work together with the province to move forward on this project with haste. We continue to keep the needs of the seniors who built our province in the forefront as we work through the Jasper recovery.”

A request for proposals will be released on both of these projects as the next steps in this process. Funding from Alberta’s government will be contributed to these projects over two fiscal years.

Quick facts

• The 2024 Jasper wildfire complex destroyed or damaged around 30 per cent of structures in Jasper, including the Pine Grove Seniors Citizens Manor, a government-owned building.
• Wildfire is an insurable event and insurance can cover costs for interim housing for insured individuals.

Bringing balance to Alberta’s financial system

Balance Trust Company has officially been registered as an Alberta-based trust corporation under the Loan and Trust Corporations Act.

On Oct. 17, Alberta’s government issued the company its certificate of registration, enabling it to offer cryptocurrency and other digital asset custodial services to investors in Alberta and other authorized jurisdictions.

“We are proud to support innovative companies like Balance Trust Company. With its registration, Alberta strengthens its position as a leader in the finance and financial technology sector. Our commitment to the sector’s growth keeps us at the forefront of financial innovation, boosts our economy and provides greater security for investors.”

Balance Trust Company leveraged Alberta’s financial services concierge, a service designed to guide financial services and fintech companies through the province’s regulatory landscape. Alberta’s government established the financial services concierge and regulatory sandbox to help companies set up shop in Alberta.

With Canada’s digital asset market continuing to grow, the presence of more licensed custodians reduces Canadian investors’ reliance on foreign entities, enhancing compliance and control over their investments. Balance Trust Company’s presence in Alberta will promote healthy competition, attract further investment and reinforce the province’s reputation as a hub for financial innovation.

“Since 2021, public fund managers and restricted dealers have sent more than $5 billion worth of investor assets to the U.S. due to the lack of local custodians. It’s time to bring them back, and I can’t think of a better home for those assets than Alberta. We’re grateful to Minister Horner and the entire team at the Alberta Treasury Board and Finance for recognizing the criticality of this task and for enabling us to bring this much-needed infrastructure to our local ecosystem.”

Quick facts

• Balance Trust Company is a subsidiary of Balance, Canada’s oldest and largest digital asset custodian.
• Balance Trust Company is Alberta’s second registered digital asset custodian, after Tetra Trust which was registered in 2021.
• Balance Trust Company is the only custodian with a proprietary technology platform developed entirely in-house through more than seven years of continuous research and development.