Rental Housing Development Loan Program
No fixed amount
Loan
Description:
The Government of Newfoundland and Labrador has launched a new Rental Housing Development Loan Program (“the Program”) that will offer low-interest loan financing to qualified property developers to encourage the construction of new rental housing.
The Program is designed to assist developers, contractors, and commercial property owners undertaking new purpose-built residential rental development projects in Newfoundland and Labrador. In so doing, the Program seeks to increase the availability of housing in Newfoundland and Labrador by incentivizing the construction of new units in the province.
Comments on Funding:
The province is committing up to $50 million to the Program through the Innovation and Business Investment Corporation, and delivered by the Department of Industry, Energy and Technology (IET) on behalf of the Corporation.
Continuous Intake
Eligibility:
Applicants must be developers, contractors, and commercial property owners undertaking new purpose-built residential rental development projects in Newfoundland and Labrador
Application Steps:
Applicants must send an e-mail to RHDLP@gov.nl.ca .
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
