Increase the Supply of Affordable Housing – CMHC (2021)

ByMaurice
  • This program is currently closed.

Description:

The Rental Housing component aims to increase the supply of rental housing for households on, or eligible to be on, social housing waiting lists; and ensure that safe, adequate and affordable rental housing is available to Ontario households.

Comments on Funding:

Funding is up to 75% of the total capital cost per one unit or $150,000 per unit, whichever is less.

Total capital costs include land, financing, hard (construction) and soft costs but less any HST rebates.

Eligibility:

Eligible projects are:

  • New constructions, including additions and extensions.
  • Acquisitions and, where required, rehabilitation’s of existing residential buildings to maintain or increase the affordable rental housing stock
  • Conversions of non-residential buildings or units to purpose-built rental buildings/units

Applications Steps:

Service Managers will solicit proposals and select rental housing projects to recommend to the Ministry of Municipal Affairs and Housing for funding approval.

Other Things to Note:

The program ended in March 31, 2020.

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

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