Affordable Housing Development Program

Affordable Housing Development Program

The Affordable Housing Development Program (AHDP) supports the creation of new affordable housing supply in partnership with private and community housing developers. Through capital contributions that help fund the construction of new housing projects or conversion of non-residential buildings, the aim of this program is to increase the supply of affordable, accessible, and energy efficient homes.

Funding is available by way of forgivable loans, and contributions are determined based on a combination of project attributes and provincial priorities.

ELIGIBILITY

Funding is available to organizations that meet the following criteria*:

  • Private sector and community housing (co-operative and non-profit) developers with previous development and property management experience, or an equivalent project team
  • Ability to meet minimum equity requirements: 20% for private sector, 5% for community housing
  • Organizations must be in good standing with appropriate business licenses in place  
  • Have adequate financial resources to fund cost overruns without adding encumbrances to the property
  • Partnerships between private and community housing developers are encouraged

Eligible project types include:

  • New construction or renovation of existing vacant building(s)
  • Conversion of schools, motels, and other non-residential buildings
  • Must be primarily residential
  • Mixed-use, mixed-income, and mixed-tenure projects
  • Be a single site, building or portfolio project, self-contained units (including single room occupancies / studio)
  • Projects already under construction will be considered
  • Offer rents at least 80% of Average Market Rent (AMR) or Median Market Rent (MMR) and be under the maximum affordable rents for the project area based on Household Income Limits (HILs)
  • Include at least five (5) affordable, self-contained residential rental units or single room occupancy units

*See the Affordable Housing Development Program Guide for full information on eligibility and program requirements.

APPLICATION AND REVIEW PROCESS

Applications for funding may be submitted at any time. Funding will be assigned to high quality projects that meet our evaluation standard, as they are received. 

All proposals will be evaluated on several elements including: 

  • Real estate development and property management experience of the applicant(s)
  • Applicants' ability to assemble resources quickly and effectively to deliver the project on time
  • Evidence-based assessment of the current and anticipated housing supply and demand and average or median market rent in the project area
  • Project status, with priority given to projects that are further along in the development process
  • Number and type of affordable housing units available
  • Depth of affordability of rent (minimum is 20% below average or median market rent)
  • Financial viability of the project
  • Ongoing operational viability of the project
  • Length of time that the new units will remain affordable in the market (minimum term is 15 years)
  • Accessibility and energy efficiency standards met or exceeded
  • Timeframe for delivering affordable units to the market

Please see the Proposal Guidelines for Developers for full details.

Program Documents

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Affordable Housing Development Program Guide  (PDF 1.2MB)

Proposal Guidelines for Developers (PDF 182KB)

Capital Costs and Pro-Forma Operating Budget Template  (EXCEL 27KB)

Program FAQs (PDF 114KB)
 

Additional Resources

Affordable Housing Development Process: A Guide for Community Housing Developers  (PDF 1.5MB)

APPLY

Please review the Affordable Housing Development Program Guide and Proposal Guidelines for Developers and contact us to have an initial discussion on your project. As your project becomes closer to being ready for submission, our Affordable Housing Specialists are available for a more detailed discussion on your proposals and can provide, optional, but valuable feedback on your proposal prior to you submitting a formal proposal for consideration.

If you need assistance completing the application, please call us at 1-844-424-2433.

Proposals may be submitted via e-mail to: affordablehousingdevelopment@novascotia.ca.