Applications now open for Phase Two of Hay River Residential Development Grant Program
FOR IMMEDIATE RELEASE
The Town of Hay River is now accepting applications for Phase Two of its Residential Development Grant Program on a first come, first served basis, aimed at encouraging the construction of affordable residential units within the community. This initiative will contribute financial incentives to eligible property owners and developers through unit-based grants for new accessory dwelling units (i.e. New basement suites, living suites, garden suites).
Phase two of the Residential Development Grant program follows Phase One which was aimed at the creation of multi-family dwellings, and retrofits of buildings resulting in incremental multi-family dwellings. Budget permitting, the Town will continue to accept Phase One applications and review on a first come, first served basis.
The program supports the Town’s Strategic Housing Plan by increasing the availability of affordable, diverse housing options while promoting sustainable development.
Key Features of the Program Include:
• Funding Amounts: Grants of up to $35,000 for new multi-family residential units and $20,000 for accessory dwelling units.
• Eligibility Criteria: Property owners and developers in good standing with the Town can apply, provided their projects meet specified requirements.
“We recognize the urgent need for more housing options in our community, and these grants are a vital step towards addressing that need,” said Mayor Jameson of the Town of Hay River. “By providing financial support, we aim to encourage developers to invest in our community and enhance the quality of life for all residents through affordable housing options.”
For more information about the Residential Development Grants Program, please contact our Director of Infrastructure and Planning Services at ipsdirector@hayriver.com or visit www.hayriver.com/planning.
About the Town of Hay River: The Town of Hay River is committed to fostering a vibrant community by enhancing economic development, supporting local initiatives, and improving the quality of life for its residents.