Prince Edward County has applied for more than $14 million in funding to help speed up affordable housing development from the Housing Accelerator Fund.
The Housing Accelerator Fund, managed by the Canada Mortgage and Housing Corporation, provides funding to help communities increase housing supply and build affordable housing in the community.
“Staff have worked hard to put together a strong application for funding,” says Marcia Wallace, Prince Edward County Chief Administrative Officer. “The application is centred around the Queen Elizabeth School redevelopment, as well as several other proposed housing projects that have been discussed with council and the Prince Edward County Affordable Housing Corporation that would make a meaningful difference in our community. We eagerly await the funder’s decision.”
The application highlights several initiatives Prince Edward County is taking to improve housing availability, including the Queen Elizabeth School Redevelopment along with investments in transitional and worker housing, and public-private partnerships for affordable, supportive, and subsidized housing.
The fund is investing $4 billion per year in communities, with a target of creating 100,000 new middle class homes for 2024/2025.
