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City of Richmond launches Grant Program to accelerate affordable rental housing
Published 12:57 PST, Thu February 13, 2025
‘Good to Know’
Eligible non-profit organizations, cooperatives and homebuilders can now apply to the City of Richmond for grants to accelerate the development of affordable rental housing. The grants will reduce potential barriers to the timely construction of homes for families, seniors and vulnerable residents.
The City of Richmond’s Housing Priorities Grant Program is open for applications from non-profit organizations and cooperatives for up to $40,000 per affordable rental home to offset development fees. Applicants can also apply for up to $50,000 for affordable rental housing feasibility studies.
Homebuilders who voluntarily deliver affordable housing can receive funding to offset up to 75 per cent of development cost charges.
“Creating more affordable housing across Richmond is a key priority for council and the city,” said Mayor Malcolm Brodie. “The new Housing Priorities Grant Program will help eligible organizations and builders offset costs that might delay the construction of much-needed homes for families, seniors, Indigenous peoples, and others.”
Endorsed by council last November, the Housing Priorities Grant Program provides $10 million through the Federal Government's Housing Accelerator Fund (HAF) to encourage the development of at least 220 more affordable rental homes across the city.
Applications are now open until March 26, 2025. For more information, including eligibility criteria and application materials, visit richmond.ca/CityGrants
This program offers two funding streams:
1. Non-Profit Organizations and Cooperatives: Grants to cover city development fees or early-stage feasibility costs for non-profit organizations and housing cooperatives that build, own, and manage affordable rental housing.
2. For-Profit Home Builders: Development Cost Charge offsets for homebuilders who build more than any minimum required supply of affordable rental housing.
To apply, please review the guidance information and complete the appropriate application form:
Non-Profit Organizations and Cooperatives:
Guidance Information for Non-Profits and Cooperatives
Application Form for Non-Profits and Cooperatives
For-Profit Home Builders:
Guidance Information for For-Profit Home Builders
Application Form for For-Profit Home Builders
Your application. Inquiries and requests for support can be sent to affordablehousing@richmond.ca
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