Edmonton CDC Purchases Wyser Manor
Edmonton Community Development Company (CDC) has purchased an 11-unit apartment house in the heart of McCauley. Built in 1912, Wyser Manor was a boarded-up derelict property before being extensively renovated by Wyser Contracting in 2000.
“This is a well-maintained, beautiful apartment house providing permanent housing to persons on fixed incomes,” said Mark Holmgren, Executive Director of the CDC. “Owning it means we can preserve quality housing and the long-term affordability of rents.”
Last year, the CDC partnered with the McCauley community to create an investment co-op that led to 91 investors, including the CDC, purchasing the Piazza strip mall on 95th Street. The CDC is also working with the community on a major development on 95 Street just north of the railroad tracks.
“The CDC is committed to taking on projects and initiatives that strengthen urban core neighbourhoods,” says Holmgren. “Growing the local economy and increasing the number of quality housing opportunities are part of that commitment.”
Plans to develop market affordable housing are also underway in urban core neighbourhoods. Said Holmgren, “urban core neighbourhoods require integrated strategies to stimulate the local economy, preserve quality housing, and to create housing that attracts more families to the area.”
Born out of the Mayor’s Task Force to End Poverty, the CDC began its work in 2018. Other initiatives include the development of a community hub in northeast Edmonton, a partnership to deliver mobile food markets in low income areas of town, offering learning and supports to social entrepreneurs, and working with residents on a large development on 118th Avenue that will further advance the arts and local business growth.
Information submitted by the Edmonton CDC.