Housing in Olds

Building a Stronger Olds: Housing Strategy Engagement 

Why Housing Matters 

Olds is growing, but not everyone can find the right place to live. Families, seniors, students, and workers all face challenges finding homes that are affordable, accessible, and the right size. 

Our Housing Strategy will outline how the Town of Olds will support diverse housing options, improve affordability, and plan for future growth, while protecting what makes Olds special. 

View the results of the 2025 Housing Needs Assessment.

Key Housing Challenges in Olds 

• Too Few Rentals 
  Rental vacancy is just 0.6%, meaning it’s very hard to find a place to rent. 

• Mismatch Between Homes & Households 
  61% of households only need one-bedroom homes, but 72% of existing houses have three or more bedrooms, leading to higher housing costs and limiting access to suitable options for singles, seniors, and small households.

• Affordability Pressure 
  Almost half of households spend more than 30% of income on housing. 

• Seniors Need Options 
  Nearly 1 in 4 residents is over 65. Many want to downsize but have no local options. 

• Barriers to Development
  Builders say regulations and costs make it harder to add new housing.  

The Vision 

• More Housing Choices 
  Apartments, duplexes, and townhomes to match changing needs. 
• Affordable Options for All Incomes 
  Support housing solutions, including rental and 1-2 bedroom housing. 
• Vibrant Core Neighborhoods 
  Focus growth in Uptowne Olds and areas with existing services. 
• Respecting Community Character 
  Ensure new development fits in with existing neighbourhoods. 
• Partnerships with Builders & Community 
  Work together to get the right homes built in the right places. 

Our Housing Strategy: 6 Priorities 

1. ️More Homes in Core Areas 
   Promote infill and mixed-use housing in Uptowne and East Olds. 
   ➤ Target: 100 new units by 2029 

2. Missing Middle Housing 
   Support duplexes, triplexes, and townhomes. 
   ➤ Target: 150 units by 2028 

3. More Rental Options 
   Create purpose-built rental housing and support secondary suites. 
   ➤ Target: 150 units by 2028 

4. Preserve Neighbourhood Character 
   Update design guidelines and protect green spaces. 
   ➤ Review redevelopment plans by 2027 

5. Seniors Housing 
   Enable aging-in-place, accessible, and assisted living options. 
   ➤ Host stakeholder discussions in 2025–2026 

6. Create a Pro-Housing Environment 
   Reduce red tape, attract private investment, and market Olds as a great place to build. 
   ➤ Aim for steady population growth and more builder participation 

How We’ll Track Success 

In the Short Term (1–2 years): 

• Increase in housing permits & speed of permit approvals 

• Use of Town incentive programs 

• Public and stakeholder engagement 

In the Long Term (3–5 years): 

• 1.8% annual population growth 

• More diverse housing types 

• Improved housing affordability 

Managing Growth Impacts 

As we grow, we’ll plan ahead to: 

• Prevent traffic and parking problems 

• Use existing water, sewer, and roads efficiently 

• Support fire, police, and emergency services 

• Work with schools and healthcare providers to maintain essential services 

• Maintain the character of our neighbourhoods 

Your Voice Matters 

We're inviting residents, builders, and organizations to help shape the future of housing in Olds. Share your ideas on this proposed strategy at our open house or online: 

Open House Date: May 5th, 2025: 11am – 1pm & 5pm – 7pm 
Location: Council Chambers (4512 46 Street, Olds, Alberta) 
More Info: www.olds.ca/engagement  

Together, we can see Olds grow in such a way that increases vibrancy, supports local business, and eases the growing costs of home ownership. 

Housing Needs Assessment - Survey March 31, 2025 to April 21, 2025

This survey is now closed.

The Town of Olds wants to hear about your housing needs. Your feedback will help us plan for housing over the next 10 to 20 years. The survey was open from March 31 to April 21. Your opinion is important to us!

Read the April 2025 Newsletter on this important topic. 

As the Town continues efforts to facilitate more development of a variety of housing types, we are conducting a public engagement for an updated Housing Needs Assessment in Spring 2025. These surveys, workshops, and interviews will provide the Town with improved quantitative information that can be used to instil greater confidence in the market for developers who are considering investing in our community.

View the results of the 2025 Housing Needs Assessment.

Current Housing Trends

Olds saw a record number of housing starts in 2024, with building permits being issued for 130 new dwellings. Furthermore, there was a significant increase in the variety of housing types being developed in Olds – a need identified in the 2023 Housing Needs Assessment – with permits being issued for several detached houses, duplexes, rental apartments, mixed-use buildings, secondary suites, and multi-plexes.
While 2024 was as a successful year for new housing development, rental vacancy rates are still less than one percent and housing costs are unattainable for many. The Town hopes to continue this momentum by attracting more residential investment in the years to come through development incentives and promoting Olds as an attractive place to invest in.

Permit Processing Successes

Throughout 2024, changes in the Town’s permitting processes contributed to significant improvements in approval times. Currently, it takes fewer than two business days, on average, for applicants to receive a development permit for most new developments. As a result of our improved efficiency, some developers have been encouraged to apply for permits up to a year sooner than originally planned because they know they can get shovels in the ground sooner in Olds than would be possible elsewhere.