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.
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.
Funding Program Name
|Affordable Housing Development Program provides forgivable loans of $45,000 per unit to non-profit corporations, private sector, development corporations, housing cooperatives or municipalities to increase the number of affordable housing options.||Social Development and Housing|
|Affordable Housing Loan Program provides a flexible financing for residential property developers to include affordable rental units in new multi-unit residential housing developments, or in existing properties being renovated.||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*|
To discuss solutions and partnership opportunities or to ask about a submission, contact:
Community Housing Projects
|Canadian Mental Health Association, PEI Division||$2 million||20 unit, three-story apartment complex|
|Habitat for Humanity PEI||$1 million||4 homes|
|Salvation Army||$3.7 million over 3 years||support for Bedford MacDonald men's shelter, Smith Lodge Transition housing, Community Outreach Centre|
|Parkdale Sherwood Lions Club||funding through AHDP ($720,000) and CHF ($750,000)||32 unit Senior's Complex|
|Salvation Army Bedford MacDonald House||$355,500||Annual grant to operate the shelter for man as well as the temporary shelter phone line|
|Blooming House Emergency Shelter for Women (pilot project)||$85,300||Seed funding for start-up and staff|
|Canadian Mental Health Association, PEI Division||$3 million||Community Housing Fund|
|Habitat for Humanity PEI||$625,000||25 homes|
|Health PEI and Canadian Mental Health Association, PEI Division||$1.3 million||10 units of transitional housing|
|Community Legal Information Association||$78,000||A new tenant support worker helps tenants with rental concerns, links to housing supports as well as navigating the complaint process.|
* 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.