Government Investing in New Affordable Rental Housing Projects

The Provincial Government today announced funding for 33 new affordable rental housing projects throughout the province at a total cost of $31 million.

The funding will support the construction of up to 344 new affordable rental homes.

This funding is made up of $17 million that was reallocated from projects that didn’t proceed under the first round of the Affordable Rental Housing Program in 2023.

In addition, the Provincial Government is adding another $14 million because of keen interest from committed developers, including 13 developers who successfully built homes in the first round.

This second round of the Affordable Rental Housing Program is geared toward projects that can activate quickly and be completed within the next 18-30 months, recognizing the pressing need for affordable housing in many communities. At this point, approximately 650 homes are anticipated from the first round projects at a cost of $65 million.