Rapid Transit Multi-Residential Rental Housing Incentive Program

The Rapid Transit Multi-Residential Rental Housing Incentive Program(PDF, 148.62 KB) is intended to provide financial incentives to support the creation of seven (7) or more net new residential rental and/or affordable residential rental units on Sites with or without pre-existing development and located in close proximity to strategic rapid transit corridors.

Program incentives provided:

• Grant of $50,000 for the creation of seven (7) or more net new Eligible Rental Units on a Site and/or
• 15-year forgivable loan of $25,000 per eligible rental unit(s) intending to meet the affordability parameters of this program to a maximum of $2,500,000 per site.

Applicants must have received a Building Permit from the City of Hamilton to be eligible for this incentive.

Important information before submitting application

Applicants can only submit one application per site/property, and an applicant is not permitted to apply for funding/incentives under 2 separate HHCIP programs.

• All applicants are required to review the detailed City Council approved Hamilton Community Improvement Plan, and in particular Appendix "E" titled Rapid Transit Multi-Residential Rental Housing Incentive Program(PDF, 148.62 KB) description and terms (the ““Program Guide”).
• Building Permits issued after March 20, 2024 are eligible for this Program.
• For a property (“Site”) to be eligible for this Program, the Site must be located within Sub Area 1 – Rapid Transit Housing Area of the Housing for Hamilton Community Improvement Project Area (HHCIPA), which, for reference only, generally encompasses properties that are approximately 1,500 meters of the City’s A-Line and B-Line rapid transit corridors that form part of the proposed BLAST-E Re-envision Rapid Transit Network.(See City of Hamilton By-law No. 24, Report 24-002 (PED23143(c)) for reference).
• Funding for this Program has been made available through the Government of Canada’s Housing Accelerator Fund.
• A grant under this Program (a “Grant”) in the amount of $50,000 is intended to support the development of seven (7) or more net new Eligible Rental Units wholly located within Sub Area 1 – Rapid Transit Housing Area of the HHCIPA.  An approved Grant will be paid in one lump sum upon building permit issuance for all Eligible Rental Units that are the subject of an approved application, as well as confirmation of compliance with all other Program conditions required for a Grant payment.
• A Forgivable Loan under this program (a “Forgivable Loan”) is intended to support the development of affordable Eligible Rental Units, with rents not to exceed 100% AMR (as defined below) for a minimum of 15 years, within the eligible area of the HHCIPA. The Forgivable Loan is a maximum of $25,000 per unit to a maximum of $2,500,000 per Site.  All conditions for a Forgivable Loan must be met, and a request for an advance of the Forgivable Loan amount must be made, on or before December 31, 2026, or the approval for the Forgivable Loan shall be terminated.
• Please ensure all required information and supporting documentation is provided as per the checklist contained herein.
• An Applicant to this Program must be the registered owner of the Site. An application from someone other than the registered owner of the Site will not be accepted.
• This Program shall not apply to a Site where a designated heritage building, or any designated part of a Site has been demolished in contravention of the Ontario Heritage Act or any applicable City by-law or Official Plan policy respecting designated heritage buildings, or parts thereof.
• For the purpose of this Program and this application:
  • “Site” shall mean all properties/parcels of land required for the planned development.
  • “Eligible Rental Unit” shall mean only newly constructed rental tenure Dwelling Unit(s); the construction of which has been the subject of a successful building permit issuance and which form part of a development containing seven (7) or more net new units located within a new or existing purpose-built multi-residential or mixed use multi- residential rental developments, but shall not include a Single-Detached Dwelling, Semi-Detached Dwelling, Additional Dwelling Unit, Additional Dwelling Unit – Detached or Garden Suite. For additional clarity, a multi-residential rental development may include any form of rental tenure townhouse (including street-oriented, stacked or back-to-back forms).
  • “Dwelling Unit”, “Single Detached Dwelling”, “Semi-Detached Dwelling”, “Additional Dwelling Unit” and “Additional Dwelling Unit – Detached” shall have the same meaning as that defined in Hamilton Zoning By-law 05-200, as amended.
  • “Program Interest Rate” shall mean the prevailing interest rate established by City Council on tax arrears and charged per annum unless otherwise forgiven in accordance with the terms of this Program.
• “AMR” means Average Market Rent (AMR) for the City of Hamilton (noted in the table below), as surveyed and published annually by Canada Mortgage and Housing Corporation. 
  • Bachelor $1,035
  • 1 Bedroom $1,413
  • 2 bedroom $1,636
  • 3+ bedroom $1,851

Application progress cannot be saved. Please ensure you have all your documents and information ready before starting the application.