County Seeks More Than $14 Million in Federal Funding for Affordable Housing
Date: September 02, 2023
The County has applied for more than $14.2 million in federal funding to support affordable housing projects aimed at increasing the local housing supply.
The funding request was submitted through the Housing Accelerator Fund, a Government of Canada program administered by the Canada Mortgage and Housing Corporation (CMHC). The program provides grants to municipalities to help fast-track housing development and encourage the creation of affordable homes.
Chief Administrative Officer Marcia Wallace said County staff worked extensively to prepare a strong application focused on projects that could have a significant impact locally. She noted the proposal centres on the redevelopment of the former Queen Elizabeth School in Picton, along with several other housing initiatives that have been discussed with council and the Prince Edward County Affordable Housing Corporation.
Council approved the Prince Edward County Housing Plan 2023–2028 at its May 9 meeting and directed staff to include the plan as part of the Housing Accelerator Fund application. The plan outlines a series of actions designed to address housing affordability and increase the supply of attainable housing across the County.
Projects and initiatives included in the funding application range from investment in the Queen Elizabeth School redevelopment to the long-term expansion of the County’s secondary suite program, which offers financial incentives to homeowners who create additional dwelling units. The application also includes proposed investments in transitional housing, worker housing, and a number of public-private partnerships aimed at developing affordable, supportive, and subsidized housing.
Prince Edward County applied under the fund’s Large/Urban stream, which is available to municipalities with populations over 10,000. Nationally, the Housing Accelerator Fund is expected to invest $4 billion to help increase housing supply in major communities, with a target of creating 100,000 new middle-class homes during the 2024–2025 period.
County officials say they are awaiting a decision from the federal government on the funding request.
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