The fifth intake of the Housing Initiatives Fund launched today to support the construction of affordable housing for Yukoners across the territory.
This call for projects includes three streams:
- shovel-ready projects in Whitehorse;
- shovel-ready projects in communities; and
- project concepts.
First Nations governments, First Nations Development Corporations, developers, contractors, community organizations and the public can apply for funding to support projects that will increase affordable housing options in their community.
Projects must include a minimum of four affordable units in Whitehorse or one affordable unit in communities that must remain affordable for 20 years.
Project proponents can receive an increased amount of funding this year due to the increase in construction costs during the COVID-19 pandemic. Shovel-ready projects in Whitehorse and rural Yukon can receive up to $100,000 per unit and up to $1,000,000 per project. Funding cannot be more than 50 per cent of the project.
Project concepts can receive up to $20,000. Proponents that receive this funding will continue to develop their project details and may reapply to the Housing Initiatives Fund and other government funding when they are ready to move forward.
Submission forms and program fact sheets are available from the Yukon Housing Corporation and information is available on Yukon.ca.
To date, through four successful intakes, the Housing Initiatives Fund has supported more than 470 new units and approximately 275 affordable units in the territory. Of 40 projects, eight projects are completed, 20 projects are under construction and agreements for 12 more projects are in progress.
The deadline for project proposals for the fifth intake is January 14, 2022, at 4:30 p.m.
The Housing Initiatives Fund has contributed significantly to the amount of affordable housing in the Yukon through a number of projects over the last four years. We have received a tremendous response to the Fund and we are happy to launch the fifth intake. This initiative targets the most recent housing need while taking into account the changing market conditions. We look forward to celebrating further successful projects and remain committed to supporting housing options for Yukoners.
Minister responsible for the Yukon Housing Corporation Ranj Pillai
The Housing Initiatives Fund supports the development of affordable housing options for Yukoners and aims to meet housing needs at all levels of the housing spectrum.
The Yukon Housing Corporation reviews the program annually to ensure that the Housing Initiatives Fund is accessible and relevant to Yukon’s housing market with due considerations to changing market conditions.
All projects must be 25 per cent more energy efficient than the National Building Code and at least one unit or 20 per cent of units, whichever is greater, in each project must be accessible.
Projects must increase the amount of affordable housing available for Yukoners and can include new affordable rentals, new rent-to-own options, new home ownership options or other mixed market approaches.
Additional consideration will be given to projects that directly support the housing continuum in the Yukon by prioritizing the needs of seniors; tenants earning less than Yukon Housing Corporation’s household income limits; people experiencing homelessness; youth aged 18 to 25; and First Nation projects. Consideration will also be given to projects that support housing solutions for staffing strategies for all levels of government and the local business sector.
This funding can be used together with other Yukon Housing Corporation programs such as the Municipal Matching Rental Construction Program, the Developer Build Loan Program and federal funding initiatives.