Burnaby Affordable Housing Reserve Grants Program
Burnaby provides grants for nonprofit-led non-market housing construction and nonprofit acquisition of purpose-built rental buildings.
About this program
The City of Burnaby Affordable Housing Reserve Grants Program supports non-market housing projects through two streams. Stream 1 supports construction of new nonprofit non-market housing projects that target deeper affordability and have secured funding from other levels of government. Stream 2 supports nonprofit societies purchasing purpose-built market rental buildings through the provincial Rental Protection Fund. Grants are based on fixed per-unit amounts for shelter rate and HILs rent-geared-to-income units and are subject to Council approval and available reserve funds.
Eligibility
Registered nonprofit housing societies and incorporated nonprofit housing co-operatives with at least five years of experience operating non-market housing may apply for eligible Burnaby non-market housing construction or rental acquisition projects.
Requirements
- Project must be located in Burnaby and include units rented at or below rates that are 30 percent of BC Housing Housing Income Limits.
- Applicant must be a registered nonprofit society or incorporated nonprofit housing co-operative with at least five years of experience operating non-market housing.
- Applicant must be the owner and operator of the units being developed or acquired.