MISSISSAUGA, ONT. — Mississauga City Council has approved a Community Improvement Plan (CIP) with $44 million in funding to help get more affordable rental housing built and grants for homeowners and developers who want to build affordable units.
The CIP will be implemented as a grant program. Applications will be accepted starting this fall through 2027 or until the program funding is fully allocated.
The CIP aims to help quickly increase Mississauga’s supply of affordable and below-market rental units in multi-unit buildings and gentle density rental units such as basement apartments, garden suites, triplexes and fourplexes in lower density areas.
Market rents in Mississauga far exceed affordable rent levels for even moderate-income renters, states a release, adding renter households require a yearly gross income of almost $100,000 to afford a one-bedroom apartment in the city. The city’s CIP will help developers, landowners and homeowners offset some of the costs required to deliver new units at affordable rates.
Mississauga’s CIP was developed in consultation with industry stakeholders and was designed to work in tandem with funding sources from other levels of government. Staff expect the program will deliver over 300 new affordable rental and gentle density units over three years.
The CIP will be funded, in part, through funds received from the federal Housing Accelerator Fund.
“We must use every tool we have to get more homes built,” said Mississauga Mayor Carolyn Parrish in a statement. “I encourage every homeowner and developer who wants to build affordable rental units in Mississauga to come forward and take advantage of this incentive program. The time to get building is now.”
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