Build Affordable Housing

Community Partners & Private Developers

Financing supports are available to community housing providers (NGOs) to build new affordable housing and renew existing housing inventory across Prince Edward Island.

Government wants to hear about ideas and concepts for new developments from potential HOUSING PARTNERS that will provide long term housing solutions for Islanders.

Private Developers

Government is working to cut RED TAPE and provide financing SUPPORTS to developers to ensure that all Islanders have an affordable place to call HOME that meets their needs.

Available Funding

Building Affordable Housing - Housing Assistance for Developers

Funding Program Name	Partner
Affordable Housing Development Program provides forgivable loans of $55,000 per unit to non-profit corporations, private sector, development corporations, housing cooperatives or municipalities to increase the number of affordable housing options.	Housing, Land and Communities
Community Housing Fund supports housing developments targeting affordability, vulnerable populations, assisted living and those that require increased support. Funding is available for capacity building and research, professional services, and construction costs	Housing, Land and Communities & CMHA
Multi-Unit Residential Loan Program provides a financing program for property which will assist in the construction of multi-unit residential developments on PEI.  A multi-unit development consists of 2 or more units.	Finance PEI
SEED Funding Program provides for interest-free loans and non-repayable contributions.	CMHC*
Co-Investment Fund provides low-cost loans and/or financial contributions to support and construct mixed-income, mixed-tenure, mixed-use affordable housing.	CMHC*
Rental Construction Financing provides low-cost loans to encourage construction of sustainable rental housing where the need is demonstrated.	CMHC*

Connect

To discuss solutions and partnership opportunities or to ask about a submission, contact:

Department of Housing, Land and Communities
902-620-3777
housing@gov.pe.ca

 

* The Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), works with its provincial and territorial partners by providing funding to reduce the number of Canadians in need by improving access to affordable, sound and suitable housing. There are several new programs available to support new housing development and renovations.