The fourth intake of the Housing Initiatives Fund launched on November 16, 2020 to support the construction of affordable housing for Yukoners across the territory.
This call for projects includes three streams: one for shovel ready projects in Whitehorse, one for shovel ready projects in communities and one for project concepts. First Nations governments, First Nations Development Corporations, developers, contractors, community organizations and the general public can apply for funding to support projects that will increase affordable housing options in their community.
This year, project proponents can receive an increased amount of funding. Shovel ready projects in Whitehorse can receive $60,000 per unit up to $600,000 per project. Shovel ready projects in rural Yukon can receive $90,000 per unit up to $900,000 per project. Project concepts can receive up to $20,000 dollars.
Submission forms and program fact sheets are available from the Yukon Housing Corporation and information is available on Yukon.ca.
The deadline for project proposals is January 15, 2021, at 4:30 p.m.
Affordable housing is a significant challenge for many Yukoners, and we are working hard to address it. Over the past three years, this program has supported the development of over 350 new homes in Yukon. With this year’s intake worth $3.6 million, we continue to support private market housing developers with projects that increase the amount of affordable homes for rent and for sale in the territory.
Minister Responsible for Yukon Housing Corporation Pauline Frost
Projects must include a minimum of four units in Whitehorse or a minimum of one unit in communities and must remain affordable for 20 years.
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 aim to meet the needs of seniors, tenants earning less than Yukon Housing Corporation’s household income limits, homeless or youth aged 18 to 25.
This funding can be used with other Yukon Housing Corporation programs such as the Municipal Matching Rental Construction Program, the Developer Build Loan Program and federal funding initiatives.
In past years, the Housing Initiatives Fund has supported over 350 new units in 33 projects in the territory. Of 33 projects, 10 projects are completed, 17 projects are underway and six are preparing to start construction.
In addition to projects ready for construction, the Housing Initiatives Fund also supported 10 project concepts through the last call for projects. The projects that received this funding will continue to develop their project details and may reapply to the Housing Initiatives Fund, or other government funding when they are ready to move forward.