Affordable Housing Innovation Fund

Who can apply

Eligible applicants include:

1. municipalities, provinces and territories
2. private sector developers and builders
3. non-profit housing providers and community housing organizations
4. Indigenous governments and organizations
5. any other housing provider interested in developing and testing innovative approaches to affordable housing

Innovation Fund proposals must demonstrate how they meet the following minimum criteria to be reviewed.

Affordability:

1. The Innovation Fund defines affordability based on the affordability criteria of the municipality where the project is located.
2. Failing such municipal criteria, the provincial criteria may be used. Where no affordability criteria exist, CMHC will determine affordability for rental housing projects based on the median market rent.
3. You must demonstrate how your project will remain affordable for at least 10 years.

Innovation:

1. The use of innovative solutions for affordable housing, including novel financing models or unique designs to overcome barriers and lower the costs and risks associated with housing projects.

For this program, we consider 3 types of innovation:

1. Transformational: Creates a new model that eliminates or totally transforms existing approaches.
2. Breakthrough: Meaningful change resulting in a demonstrably new approach that results in a substantial competitive edge.
3. Incremental: “New and improved” reflecting small, yet meaningful improvements in an existing approach.

Financial sustainability:

1. Your proposal must demonstrate that the required financial resources are available to support the sustainability of the project.
2. Proposals should also highlight how the innovation will reduce or eliminate reliance on government subsidies.

Knowledge transfer

1. As part of your application, you must provide a knowledge transfer plan and information dissemination strategy for your innovative project or idea.

Knowledge transfer objectives include:

1. capturing and sharing information, lessons learned and insights gained through the initiative
2. advancing the capabilities of the housing sector and the knowledge of decision makers
3. informing and influencing policy makers and builders
4. seeding the next generation of innovations to improve housing affordability

Additional objectives

You will also need to describe if and how your innovative proposal will support the following objectives:

1. reduce energy use and greenhouse gas emissions
2. increase the number of accessible units within the housing stock
3. address the needs of the National Housing Strategy in relation to priority areas for action

Proposals will be prioritized on these key elements:

1. innovation
2. affordability
3. financial sustainability
4. knowledge transfer
5. housing needs of priority populations
6. accessibility
7. partnerships promotion
8. scalability
9. replicability
10. reduction of energy use and green gas emissions
11. development, implementation and testing readiness