Affordable Rental Housing Grant Program for not-for-profit corporations

Call for applications

The City has launched a call for proposals under its Affordable Rental Housing Grant Program to allocate $1.1M in funding to support the work of not-for-profits in the creation of affordable rental housing projects. The City is seeking proposals to create new affordable housing units for low to moderate-income households. The funding is comprised of Section 37 developer contributions and $200,000 from Council’s Community Priority and Contingency Reserve.

The City will accept submissions until 2 p.m. on May 31, 2024. More information, including the application form, is available on the City’s Affordable Housing webpage.

Project background

The City of Waterloo created an Affordable Rental Housing Grant Program to help address the growing issue of housing affordability. This program will guide the allocation of available funding, providing financial support to developments that provide affordable housing in the City. The City’s program is focused on not-for-profit corporations providing affordable housing units in the City. The final approved program policy (Attachment 1 of Report IPPW2022-022) was informed by staff’s evaluation, public/stakeholder consultation and comments, and a best practices review.

Note that this new grant program is separate from the citywide Affordable Housing Strategy.