Back to SearchThe City of Kitchener has launched an exciting new program to incentivize not-for-profit affordable rental and co-op housing projects, made possible in partnership with the federal government through the Housing Accelerator Fund. The incentive program will provide up to $10,000 per unit for qualifying projects.
The not-for-profit affordable rental and co-op housing incentive will help cover up-front costs incurred as housing projects move towards shovel-ready construction. Upfront costs related to design and city approvals have been identified by affordable housing developers as a significant financial barrier to beginning projects.
The incentive program provides $10,000 per unit for qualifying not-for-profit affordable rental and co-operative housing projects, up to a maximum of 50 units ($500,000/project). The grants will be distributed incrementally at key milestones.
As part of the launch of the new incentive program, the City of Kitchener is offering a virtual information session on Wednesday, June 19 at 2:00 p.m. to provide an overview of the program and submission requirements. To register for the session, email your name and organization to planningpm@kitchener.ca.
“When governments work together, great things can happen. This is a wonderful example of how Kitchener’s partnership with the federal government through the Housing Accelerator Fund will add urgently needed affordable housing units to our community,” said Kitchener Mayor Berry Vrbanovic. “This incentive program proves yet again that we can make a real difference in tackling the housing crisis through cooperation and collaboration with every order of government.”
The program is funded by the Federal Housing Accelerator Fund ($3.9 million) and by the City of Kitchener ($1.3 million), for $5.2 million. Through the Housing Accelerator Fund (HAF), the Federal government will provide $42.4 million to the City of Kitchener to enable new programs and initiatives to accelerate housing starts.
The not-for-profit affordable rental and co-op housing incentive pilot program will help break down front-end barriers for affordable housing projects and will support the creation of up to 520 new affordable units. This will help the city achieve its goal of building 1,200 new units in the next three years. The new incentive program supports the City’s Housing for All strategy to build more affordable housing, quicker.
“This is a great, common-sense solution to incentivize exactly the type of housing we need in our community,” said Ward 6 Councillor and Planning & Strategic Initiatives Committee Chair Paul Singh. “As with all our recent housing announcements, I’m pleased to see that we’re moving forward with so many initiatives to get housing built in Kitchener. I look forward to seeing the projects advanced through this new program.”
The City of Kitchener is working towards everyone having a place to call home. This program supports the Housing for All strategy, approved in December 2020, and specifically supports priority four, which focuses on helping to secure community, affordable rental, and affordable home ownership housing. This program implements one of the City’s Housing Accelerator Fund objectives. This program also supports the building of 35,000 more homes by 2031, as part of Kitchener’s Municipal Housing Pledge approved by City Council in March 2023.
This is part of our commitment to Building a Connected City Together as a key priority of the City’s strategic plan, and the City of Kitchener Building Kitchener Together initiative to advancing the Housing For All strategy.
To learn more about the new not-for-profit affordable rental and co-op housing incentive program, including how to apply, visit www.kitchener.ca/housingincentives.
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For more information, contact:
Shawn Falcao
Manager, Corporate Communication
City of Kitchener
shawn.falcao@kitchener.ca
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