Downtown and Barton/Kenilworth Housing Opportunities Program
The Downtown and Barton/Kenilworth Housing Opportunities Loan Program provides financial assistance through low-interest loans to encourage the development of multiple dwelling units, creating new housing opportunities that support local commercial district populations and increase demand for nearby businesses and services.
Offered by City of Hamilton
Amount
Low-interest loan; the maximum loan amount is the lesser of $4,000,000 or 25% of the construction budget for the development
Quick eligibility check
Who can apply
Eligible activities include: the creation of at least 10 new dwelling units through the development of a multiple dwelling or the redevelopment of an existing building; a building addition containing at least 10 new dwelling units; and/or the conversion of existing non-residential space into housing consisting of at least 10 new dwelling units.
Applies to the following Community Improvement Project Areas: Barton Village Commercial District, Downtown Hamilton Commercial District, and the Barton Street East and Kenilworth Avenue North Strategic Commercial Corridors.
$420 Application Fee to accompany application
Note: Applicant must be the registered property owner.
About the funding
The Downtown and Barton/Kenilworth Housing Opportunities Loan Program provides financial assistance through low-interest loans to encourage the development of multiple dwelling units, creating new housing opportunities that support local commercial district populations and increase demand for nearby businesses and services.
The maximum loan amount is the lesser of $4,000,000 or 25% of the construction budget for the development. For details, please refer to the full program description.
Note: The subject loan is to be secured by a mortgage registered on title in a position no less than second in priority.
Eligible activities include: the creation of at least 10 new dwelling units through the development of a multiple dwelling or the redevelopment of an existing building; a building addition containing at least 10 new dwelling units; and/or the conversion of existing non-residential space into housing consisting of at least 10 new dwelling units.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Commercial District Housing Opportunities Program | Loan | The lesser of $1,000,000 or 25% of the construction budget for the development (maximum loan) | Open |
| ERASE Commercial District Remediation Loan (ECDRL) Program | Loan | Up to $400,000 | Open |
| Hamilton Heritage Revitalization Loan Program | Loan | Up to $100,000 | Open |
| Start-up and Office Tenant Attraction (SOTA) Program | Loan | $450,000 | Open |
