Saint John has launched a second round of applications for its affordable housing grant program.
Private sector developers are eligible for $8,000 per affordable unit while non-profit developers can receive $10,000.
Private sector developers are eligible for up to $160,000 while non-profit developers can get up to $200,000.
Each project can receive up to an additional $50,000 in bonus funds for projects that are innovative or address a market gap.
The city conditionally approved over $1 million in grants through the first round of the program to help fund 133 new affordable or supported units.
Applicants must provide proof of provincial and federal government support for their project.
Successful applicants will have up to one year to get a building permit and must complete their project before April 2027. All grants will be paid out once the project’s foundation is complete.
Applications are being accepted until Nov. 15. The grant committee will begin reviewing applications in November/December, with funding being committed through quarterly grant cycles until all the budget for 2024 is used.
