NLHC launches second round of Affordable Rental Housing Program
On Tuesday, Newfoundland and Labrador Housing Corporation launched a second request for proposals under the Affordable Rental Housing Program.
The RFP will reallocate $13 million, which was originally allocated in the first round, to projects that are no longer proceeding. Priority for this round may be given to “shovel-ready” projects to advance builds as quickly as possible.
The Affordable Rental Housing Program provides one-time capital funding in the form of a forgivable loan to support the development of new affordable rental homes throughout the province.
Through the first round of the program, there have been 96 completed homes from 11 projects in 11 communities, 162 homes under active construction from 20 projects in 15 communities, and an additional 163 homes from 15 projects have final approval and are expected to begin construction in the coming weeks.