This spring, CMHC launched the National Housing Co-Investment Fund as part of the federal government’s National Housing Strategy. The Fund supports the creation or repair of affordable homes across the country. The goals of the program are
- create 60,000 new units
- repair 240,000 units
- create or repair at least 4,000 shelter spaces for victims of family violence
- create at least 7,000 new affordable units for seniors
- create at least 2,400 new affordable units for people with developmental disabilities
There are two streams that co-ops can apply to; the New Construction stream and the Repair and Renewal stream. In both streams, applicants must demonstrate that they meet the eligibility requirements in several categories such as financial viability, affordability, accessibility and energy efficiency. Federal-program housing co-operatives are not required to get funding from the province or municipality. That requirement has been waived.
CMHC is accepting applications completed on-line on an ongoing basis and reviewing applications every 60 days. For more information please contact the Agency at email@example.com or contact your Relationship Manager.