Housing Accelerator Fund Incentives for Homeowners and Developers Announced

The City of St. John’s announced two new Housing Accelerator Fund incentives. There will be grants for homeowners for additional housing units on their property and an incentive program for developers who are building multi-unit purpose built rentals.

The City allocated over $10.4 million in federal funding through the Canada Mortgage and Housing Corporation’s Housing Accelerator Fund to stimulate housing growth.

A one-time grant of up to $20,000 will be available to homeowners looking to build a subsidiary dwelling unit (apartment) or backyard suite at their primary residence or a tiny home on its own lot.

For developers, multi-unit purpose-built rentals incentives are now available which include fee exemptions to a maximum of $100,000.

The City is hosting an open house to discuss its new Housing Accelerator Fund Incentives.