Rapid Housing Initiative — Projects Stream
Canada
Funding to build affordable housing
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|minCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateOctober 27, 2020
- grant_single|closingDateMarch 15, 2023
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Construction
- Real estate and rental and leasing
- Health care and social assistance
grant_single|grantors
- Canada Mortgage and Housing Corporation (CMHC)
- Government of Canada
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Get capital contribution funding to cover rapid construction of new housing and/or acquisition of existing buildings for rehabilitation or conversion to permanent affordable housing.
grant_single_labels|projects
There are eligible projects for this grant. The funding is targeted towards creating new units of permanent affordable housing for vulnerable populations, with a focus on women-focused affordable housing projects.
- Creation of new units of permanent affordable housing
- Projects targeting vulnerable populations
- At least 25% of investments going towards women-focused affordable housing projects
grant_single|admissibleProjectsExample
$6,000,000
Ottawa
New affordable housing development for seniors
$3,000,000
Montreal
Acquisition and conversion of a heritage building into affordable housing
$4,000,000
Vancouver
Renovation of an existing building to convert into affordable housing units
$2,500,000
Edmonton
Construction of modular affordable housing for the homeless
$5,000,000
Toronto
Construction of new affordable housing units for single mothers
$5,000,000
Calgary
Development of affordable housing complex for Indigenous women
grant_single_labels|admissibility
grant_eligibility_criteria|eligible_expenses
The RHI funding does cover eligible expenses. Eligible expenses include:
- Construction costs
- Soft costs (e.g., professional fees, permits)
- Land costs
- Eligible remediation costs
- Non-profit sponsor costs that are integral to the project
grant_single_labels|criteria
There are evaluation and selection criteria for this grant:
- Alignment with the objectives of the National Housing Strategy.
- Demonstrated ability to create new units of permanent affordable housing.
- Focus on vulnerable populations and women-focused affordable housing projects.
- Feasibility and sustainability of the proposed affordable housing units.
Apply to this program
Summary of the Grant
The Rapid Housing Initiative (RHI) funding announced in Budget 2022 aims to address immediate housing needs by creating new units of permanent affordable housing, with a focus on vulnerable populations targeted under the National Housing Strategy (NHS). The RHI funding includes $1.5 billion, with $1 billion allocated to the Projects Stream and $500 million to the Cities Stream.
Details of the Rapid Housing Initiative Grant
The Rapid Housing Initiative (RHI) grant, introduced in Budget 2022, is a government initiative focused on providing immediate solutions to housing needs in Canada. The funding is specifically designed to create new units of permanent affordable housing for vulnerable populations identified under the National Housing Strategy (NHS).
With a total budget of $1.5 billion, the RHI grant aims to commit all funds by March 31, 2024. The objective of the grant is to support the construction of 4,500 new affordable housing units across the country, with a significant portion of investments directed towards women-focused affordable housing projects.
The funding allocation includes $1 billion for the Projects Stream, which supports the development of affordable housing units through various projects, and $500 million for the Cities Stream, which focuses on initiatives in urban centers to address housing challenges in densely populated areas.
The application window for the RHI grant is currently closed, but interested parties can learn more about previous rounds and stay informed about future opportunities through the official channels. For general inquiries about the National Housing Strategy or technical support related to the grant, individuals can contact CMHC via phone at 1-800-668-2642 or email at contactcentre@cmhc.ca during business hours from 8 am to 6 pm Eastern Time.
Overall, the Rapid Housing Initiative grant plays a crucial role in supporting the development of affordable housing units and addressing housing needs for vulnerable populations in Canada. By focusing on creating new housing options and investing in targeted projects, the grant aims to make significant strides towards improving housing accessibility and affordability for those in need.
