Municipal Mini - More Construction in Olds

There’s more construction happening in Olds. This time on 51 Avenue (just behind A&W).

A new 6 story mixed-use apartment building is being built to meet housing demands in our community. This building is privately owned, was permitted in 2024, and includes commercial spaces on the bottom floor with 70 rental units on the floors above.

More details will be shared closer to the buildings opening.

Why is this happening?

• Because Olds is a market poised for residential and commercial growth. 
• And based on community feedback from our 2025 Housing Needs Assessment and the Housing Strategy, Olds needs to add 640 housing units over the next 5 years to meet demand. That includes at least 200 purpose-built rentals, like this one. 
• And according to our 2024 Commercial Gap Analysis, Olds can accommodate 250,000 – 300,000 sq. ft of additional retail/commercial space by 2034. 

Olds can grow and will grow responsibly. This building is a testament to the attractiveness of our community as a vibrant hub for residents, businesses, and students. 

Visit www.olds.ca/housing to stay informed on housing needs and plans.