Lakeshore launches Housing Grant Program

Lakeshore is offering housing grants for anyone building affordable housing units.

Lakeshore has launched a Housing Grant Program, aimed to support accessible, affordable, missing middle housing in the area.

The funding is given out as grants, rebates, or forgivable loans, depending on the type of housing. Amounts vary from $2,500 to $80,000 per unit of housing.

“We are thrilled to offer the opportunity for grants and rebates to individual residents and developers who are building new housing that meets the needs of our communities,” said Mayor Tracey Bailey.

“Together, we can create more housing that is suitable for seniors, young people, and families throughout Lakeshore.”

The program is through the Community Improvement Plan, which the municipality said benefits both residents and developers. If you’re a homeowner, you can use the incentive to add an additional residential unit at your home.

Lakeshore said in order to make the program more accessible, pre-approved designs are up for grabs, as well as guidance to help lower cost, get things approved quicker, and add new housing while increasing value of their own homes.

On larger-scale projects, the CIP is aimed to expedite projects that increase the supply of housing, including missing middle (semi-detached, duplex) and affordable housing, reducing application and permit costs for higher density housing, and new housing projects that have accessible and sustainable designs.

“Lakeshore has seen phenomenal population growth in the last 10 years,” said Kendra Fry, Lakeshore Horizons Transformation Lead.

“To meet the needs of seniors looking to downsize, but remain in the region, and young people looking for a starter home, we need to increase the supply of appropriate housing. The CIP allows us to incentivize the building of more housing to meet this need.”

Applications will be accepted from Jan. 19 until March 6. Decisions on the applications are expected within three months after March 6.

More information is available here.