The Affordable Rental Innovation Fund offers grants to encourage new funding models and innovative building techniques in the rental housing sector. Funding is available to municipalities that want to build new affordable rental housing, using innovative solutions, in Canada where community need is demonstrated. The $200M Fund is available for five years (starting in September 2016) or until all funds are assigned.
RCFi provides low-cost loans to encourage the construction of rental housing where the need for supply of rental is clearly demonstrated. The initiative will provide up to $2.5 billion in loans over the next four years starting, focusing on standard apartment projects with general occupants (excludes niche housing types).
For application criteria and further information on how to apply for these incentives, visit the CMHC website.