Your project also has to meet a set of key criteria related to affordability. Plus, you must commit to maintain that level of affordability for at least 10 years.
For new construction:
- the total residential rental income must be at least 10% lower than market rates, and
- 20% of the units must rent for less than 30% of the median household income for your area
You can access median household incomes from Statistics Canada.
Your proposal can also meet these criteria by being approved under another government affordable housing program. This can include capital grants, municipal concessions and expedited planning processes.
For existing buildings:
- 80% or more of the units must be in the lowest 30% of rents for similar homes, or
- the building must be approved by another government affordable housing program
You can look up average rents in your area with CMHC’s Rent Percentile Tables. (PDF)
Social housing projects with at least 5 years left on their operating agreements can also apply.