On November 21, the 2023 Fall Economic Statement announced the renaming of the National Housing Co-Investment Fund (NHCF) to the Affordable Housing Fund with an additional funding of $1 billion over 3 years, starting in 2025-26, to build more affordable housing.
Funding is still available under the current NHCF. The federal government intends to announce reforms to the Affordable Housing Fund in early 2024.
Federal Budget 2023 Boosts Funding
Projects can now get up to:
- $75,000 per unit for exceeding affordability and energy efficiency standards
- $25,000 per unit for meeting minimum social outcome requirements
This New Construction option of the Affordable Housing Fund provides low-interest loans and forgivable loans to build new affordable housing. The Fund prioritizes partnerships between governments, non-profits, the private sector and other partners.
To qualify, you need to partner with a level of government to ensure coordination of investments.
The Affordable Housing Fund focuses on developing energy-efficient, accessible (PDF) and socially inclusive housing that is:
- mixed-use that includes affordable housing
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|Apply for a contribution