)
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|grantStatusClosed
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Construction
- Real estate and rental and leasing
- Health care and social assistance
grant_single|grantors
- Government of Canada
- Canada Mortgage and Housing Corporation (CMHC)
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
New affordable housing development for seniors
$ 3,000,000
Acquisition and conversion of a heritage building into affordable housing
$ 4,000,000
Renovation of an existing building to convert into affordable housing units
$ 2,500,000
Construction of modular affordable housing for the homeless
$ 5,000,000
Construction of new affordable housing units for single mothers
$ 5,000,000
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.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Successful applicants are required to submit attestations through CMHC’s Client Portal.
- The additional funding aims to create a total of 4,500 new affordable housing units.
- At least 25% of the investment must specifically support women-focused affordable housing projects.
- The RHI funding under Budget 2022 focuses on immediate housing needs to allocate all funds by March 31, 2024.
- The total funding of $1.5 billion is divided into two streams: $1 billion for the Projects Stream and $500 million for the Cities Stream.
- The application window for this funding round is currently closed.
- Applicants can seek further assistance regarding the National Housing Strategy or require technical support via the provided contact details.
