A Region of Peel program that provides incentives for developers to build middle-income rental housing in Peel is accepting applications.
The Affordable Housing Incentives Pilot Program is a Region of Peel capital grant program. It’s designed to support private and non-profit developers building affordable rental housing for middle-income households, with a focus on larger, family-sized units. Up to $7.5 million in total funding is available.
There are several criteria applicants must be to be eligible for the grant. The proposal must be for a minimum of five affordable units – primarily two and three-plus bedrooms, the rent must meet the program’s definition of affordable and stay that way for at least 25 years and applicants must have experience in the field.
The program targets middle-income households that make between $62,000 and $111,000 per year. This program complements other programs and services provided by the Region of Peel that focus on housing for low-income households.
Any private or non-profit developer building middle-income rental housing within Peel can apply to this program. The deadline to apply is 5 p.m. on Monday, July 12.
For more information on the program, visit the region’s website.