Tier 1 funding is available to eligible for-profit market rental and non-market (not-for-profit rental and Affordable Home Ownership, and co-operative) housing projects that secure affordable units, with rents set at a minimum of 10% below CMHC average market rents, for a minimum of 10 years.
Funding is provided on a per-unit basis: $5,000 per studio, $10,000 per one-bedroom affordable unit, and $15,000 per two-bedroom or larger affordable unit, up to a maximum of $250,000 per project. This funding stream is intended to improve project feasibility and encourage the inclusion of affordable, family-oriented housing within new residential developments.