Program aims to create new affordable rental housing
York Region is seeking non-profit partners to help build community housing as part of a new grant program.
The region is calling for applications for a new community housing supply grant pilot program. The grant will provide millions in capital funding to non-profit and co-operative housing organizations ready to build. The program aims to increase the supply of community housing.
The region will offer $5.5 million in 2023 and $4.7 million in 2024 to eligible proponents with a conditional capital grant. Applicants must be registered non-profit or co-operative that will operate the project as non-profit or cooperative housing for at least 20 years.
The projects must provide a minimum of 10 residential units and rent at no more than 100 per cent of the Canadian Mortgage and Housing Corporation average market rate for a minimum of 20 years. The region can also, on a case-by-case basis, further supplement these units and then place them on the regional subsidized housing waitlist.
Applicants can apply by submitting a project information sheet and supporting documents to hpsupplygrant@york.ca by Nov. 10 at 4:30 p.m. You can find further information through the York Region website.