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This is the fourth episode of the Halal Housing Lab podcast series, exploring how we might finance an affordable housing project for multigenerational Muslim families in Edmonton, Alberta, while being respectful of the financial values of Islamic culture. The Halal Housing Lab is a collaborative project between our partners at Islamic Family, Another Way, SAS Architecture, Ask for a Better World, and Intelligent Futures, funded by the Canada Mortgage and Housing Corporation. Over the course of the past several months, we’ve begun working to find new and innovative housing solutions that not only accommodate the needs of multigenerational Muslim families, but can improve the housing market for everyone in Canada.
Conventional financing models keeps many Muslims, as well as service organizations like Islamic Family, out of the affordable housing market. A central component to the Halal Housing Lab has been to identify how different models of affordable housing financing can be leveraged to support diverse world views, while working within the larger Canadian housing system. Financing is a critical component to the success of any housing development, and when the idea of money is inherent to cultural values that differ from the North American norm, it compounds the difficulty of addressing the growing shortage of affordable housing in Canadian cities. While challenging, learning from Islamic values towards money through the concept of Halal financing, has the potential to create more equitable and transparent financial systems for all.
If you know of any non-traditional affordable housing models that you think might be relevant to the exploration of Halal Housing, drop us a note at hello@360degree.city. We would love to hear about them!
Resources
Community Investment Co-operatives: https://bcca.coop/community-investment-co-ops-a-growing-co-operative-sector-in-bc/
Islamic Family podcast on Zakat: https://podcasts.apple.com/ca/podcast/ifssa-islamic-family-social-services-association/id1448826236
McCauley Development Cooperative: https://socialenterprisefund.ca/client/mccauley-development-cooperative/