Housing Strategy Showing Progress One Year After Adoption

One year after adopting its Housing Strategy, the Town of Olds is seeing significant movement in both the amount and variety of housing being built in the community.

Council received its first annual Housing Strategy progress update on Aug. 24. Since the Strategy was adopted in July 2025, Olds has seen more than 300 housing starts, about 160 rental units available or coming online soon, new developers entering the local market and increased construction of housing types that have historically been limited in Olds.

The Housing Strategy was built on several years of research, housing data and input from residents, businesses and the development community. That work identified the need for more housing and, more specifically, the right types of housing.

“Growth is important to the long-term health of our community, but it needs to be thoughtful and based on what Olds actually needs,” said Mayor Dan Daley. “Over the past several years, residents, businesses and housing partners have told us where the gaps are, and we’ve backed that up with research and data. That gives Council a much clearer picture when we make decisions about development, infrastructure and where we need to focus next.”

One of the clearest changes is in “missing middle” housing — smaller multi-unit developments such as townhomes, rowhouses and three-, four- and five-plexes that provide options between detached homes and larger apartment buildings.

Only 11 missing middle units were built in Olds during the decade from 2015 to 2025. So far in 2026, 26 have started construction. The Housing Strategy identified this as an important gap and set a goal of adding 200 missing middle units by 2030.

Rental housing has also increased. Two large apartment developments helped drive record housing starts in 2024 and 2025, with about 160 rental units now available or coming online soon. This responds to one of the most pressing issues identified when the Strategy was developed: a rental vacancy rate of just 0.6 per cent.

“We are seeing significant progress, particularly in rental and missing middle housing, but this isn’t a finish line,” said Adrian Pedro, director of Infrastructure Services. “Housing needs will continue to change as Olds grows. We need to keep measuring what is happening, understand where the gaps remain and make sure our planning and infrastructure can support that growth over the long term.”

More development is on the way. A 70-unit mixed-use development on 51 Avenue is nearing completion, the first permits have been issued for the Larchwoods manufactured home development and additional residential projects are moving through various stages of planning and development.

A growing community supports local businesses, helps attract and retain workers, makes better use of existing infrastructure and broadens the municipal tax base. It also creates new demands on roads, utilities, recreation and other services. The Town’s focus is on managing both sides of that equation and planning for responsible growth rather than simply reacting to it.

There is still work to do. Entry-level ownership remains a challenge, with only 10 of 47 detached homes listed for sale below $500,000 when the update was prepared. Seniors-specific housing also remains a gap.

The Town will continue to track housing trends and use updated data, public input and development activity to understand where progress is being made and where more work is needed. The Strategy calls for annual progress reporting so that priorities can adapt as Olds and its housing needs change.

Learn More

Read the Housing Strategy and see the update in the Plans & Reports section at olds.ca. You can watch the full presentation given to Council on our website.

Media Contact:

Adrian Pedro
Director of Infrastructure
planning@olds.ca