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Funding available to develop secondary suites for affordable housing

June 27, 2023

The Prince Edward County Affordable Housing Corporation (PECAHC) is now accepting applications for the Secondary Suites Program.

“We are pleased to continue this program for County residential property owners,” says Charles Dowdall, Director of Housing. “We are committed to encouraging the development of a variety of affordable and attainable housing options. We saw a strong start to this program last year, and we look forward to building on those results this year. “The program provides a $25,000 interest-free loan to County residential property owners to help them develop affordable long-term rental housing on existing residential properties.

Property owners can apply to develop affordable housing over the next 18 months. Projects can include retrofitting existing structures or building new rental housing in any part of the County. Successful applicants must commit to 15 years of affordable housing by Canadian Mortgage and Housing Corporation (CMHC) regional guidelines, with the ability to prorate the loan should the property be divested.

The application will be available online at www.pecahc.ca/apply until Friday July 30, 2023 at 4 pm.

Council approved $200,000 in 2022 budget for the Secondary Suites Program. Four applications for $25,000 each were funded in 2022. Council approved during the 2023 budget deliberations that the remaining $100,000 be carried forward to allow for a second round of applications this year.

 

If you have questions or concerns, contact 613.476.2148 extension 1529 or apply@pecahc.ca.

 

 

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