The Town of Riverview has announced the launch of two new housing grants through the Housing Accelerator Fund agreement.
The collaboration between the town and the Canada Mortgage and Housing Corporation (CMHC) is part of a federal initiative designed to enhance the housing supply. This program focuses on fostering affordable, diverse, and climate-resilient communities.
The garden and in-law suite development grant aims to boost the availability of “missing middle” housing options, catering to families, seniors, and other community members.
Homeowners can receive $15,000 to develop an accessory on their property, provided it includes an existing primary residence in designated residential zones. With a mix of large-scale developers and skilled residents, Riverview officials hope this program will empower homeowners to enhance their neighbourhoods with gentle density.
Town officials said residents from various backgrounds have been voicing their housing needs, highlighting the demand for different types of accommodations.
Seniors are looking for downsizing options, while larger and multi-generational families seek multi-bedroom units, young adults entering the housing market need rental properties, and many homeowners desire gardens and in-law suites.
Another initiative linked to the Housing Accelerator Fund agreement is a grant program for affordable, barrier-free and three-bedroom units.
This initiative seeks to increase the housing supply in Riverview by incentivizing the development of new units that fill existing market gaps.
Developers who meet the criteria can receive grants of up to $20,000 per unit for for-profit projects and $25,000 per unit for non-profit projects.
