City of Winnipeg and Government of Canada invest $58.5 million to create nearly 2,500 new homes in Winnipeg

Winnipeg, MB – The Government of Canada and the City of Winnipeg are investing $58.5 million through two housing programs to support the creation of nearly 2,500 new homes, leveraging over $1.6 billion in construction across Winnipeg.

Today, the two governments announced recipients of the second round of grants under the Housing Accelerator Fund Capital Grant Program. The City is awarding $25 million in capital grants to 12 local housing projects focused on affordable housing and developments in Downtown Winnipeg. These projects will create 1,418 new housing units with 633 affordable units.

In addition, 16 housing development projects will receive $33.5 million in tax increment financing (TIF) through the City’s Affordable Housing Now Program.

Together, these projects will create 2,487 new housing units, including 1,295 affordable homes. Total construction costs for all of these projects are expected to exceed $1.6 billion.

“It’s wonderful to see the impact the Housing Accelerator Fund is having across Winnipeg.” said the Honourable Terry Duguid, Minister of Sport and PrairiesCan. “Projects like these will help young people find affordable homes and create vibrant, inclusive communities where all families, especially the next generation, can thrive and build their future.”

“Our $58.5 million investment is unlocking over $1.6 billion in construction, building affordable homes for families, creating jobs, and driving economic growth across Winnipeg,” said Mayor Scott Gillingham.

Housing Accelerator Fund Capital Grant Program
The list of 12 projects receiving grant funding through Round Two of the Capital Grant Program is available at: winnipeg.ca/HAFcapitalgrant.

The projects awarded funding through Round Two of the Housing Accelerator Fund Capital Grant Program had all applied to the program during its initial intake period. Through that intake, there were 66 total grant applications and requests for approximately $160 million in funding. The City was able to award $25 million to 11 projects in Round One of the program.

In December 2023, the Government of Canada and City of Winnipeg announced $122.4 million in funding for new housing in Winnipeg, under CMHC’s Housing Accelerator Fund. The Capital Grant Program is one of the key action items proposed by the City in its application to the Housing Accelerator Fund. More information on the Housing Accelerator Fund and the City of Winnipeg’s list of housing initiatives are available at: winnipeg.ca/HAF.

Affordable Housing Now Program
The complete list of 16 projects receiving TIF support through Affordable Housing Now is available at: winnipeg.ca/affordablehousingnow.

The Affordable Housing Now Program supports the development of affordable, multi-family rental housing projects that qualify for funding under the Government of Canada’s National Housing Strategy. To further these goals, Winnipeg City Council has allocated $50 million for tax increment financing, providing up to 80% of municipal incremental tax increases from eligible developments.