LoanGrantNewfoundland and LabradorProperty DevelopmentReal Estate Financing
Affordable Rental Housing Program – Private Sector Stream
The Affordable Rental Housing Program (ARHP) provides one-time capital funding in the form of a forgivable loan to assist in the creation of affordable rental housing units throughout the province.
There are two distinct application streams – the Private Sector Stream and the Community Housing Sector Stream. Successful proponents will own and manage their project and rent to lower income households at or below rates established by NLHC.
Offered by Newfoundland and Labrador Housing Corporation (NLHC)
Amount
Forgivable loan of $55,000-$95,000 per unit (Private Sector Stream), on the first 10 units of a project and 50 per cent of the units thereafter, up to the maximum of 20 funded units
Quick eligibility check
Years in business
No minimum stated
Employees
No limit stated
Revenue
No limit stated
Legal structure
No requirement stated
Location
Newfoundland and Labrador
Who can apply
Applicants must be Private Owners/Operators
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Apartment Construction Loan Program: Seniors Rental Housing | Loan | Up to 100% loan to cost for residential space and up to 75% loan to cost for non-residential space, with up to a 50-year amortization period | Open |
| Apartment Construction Loan Program: Standard Rental Housing | Loan | Low-cost loan of up to 100% loan to cost for residential space and up to 75% loan to cost for non-residential space, with up to a 50-year amortization period | Open |
| Apartment Construction Loan Program: Student Housing | Loan | Low-cost loan of up to 100% loan to cost for residential space and up to 75% loan to cost for non-residential space, with up to a 50-year amortization period and a fixed interest rate | Open |
| BDC Commercial real estate loan | Loan | Typically starts at $100,000 and can go up to several million dollars | Open |
