Funds available through the City of Kitchener’s affordable rental housing & co-operative incentive

Kitchener, Ontario –Five projects have been approved for funding through the City of Kitchener’s Not-for-profit Affordable Rental and Co-op Housing Incentive, which helps not-for-profits offset the initial costs incurred during the development process. These housing projects will add much-needed housing in two of the most important segments of the housing continuum, and additional funds are still available. 

The incentive was created in 2024 with $5.2 million in funding from the Housing Accelerator Fund and the City of Kitchener’s affordable housing reserve fund. The incentive aims to support 520 new affordable units, of which 140 units have already been approved, allocating $1.4 million of the available funding. The not-for profits approved to date include House of Friendship, Beyond Housing, Thresholds Homes & Supports, KW Habilitation and the Eleven Housing Corporation.  

The incentive will provide a grant of $10,000 per unit (up to a max of 50 units) for not-for-profit affordable rental or co-op housing units. The grant can cover non-capital upfront costs relating to site design and development approvals, helping projects go from an idea to being shovel-ready. This will help remove upfront barriers to developing affordable rental and co-op housing. 

Eligible projects must meet the following criteria: