🏠 | Newfoundland and Labrador | Rental Housing Development Loan Program

Rental Housing Development Loan Program

Maurice
By Maurice | May 1, 2025

Amount:

No fixed amount

Type:

Loan

Description:

The Government of Newfoundland and Labrador has launched a new Rental Housing Development Loan Program (“the Program”) that will offer low-interest loan financing to qualified property developers to encourage the construction of new rental housing.

The Program is designed to assist developers, contractors, and commercial property owners undertaking new purpose-built residential rental development projects in Newfoundland and Labrador. In so doing, the Program seeks to increase the availability of housing in Newfoundland and Labrador by incentivizing the construction of new units in the province.

Comments on Funding:

The province is committing up to $50 million to the Program through the Innovation and Business Investment Corporation, and delivered by the Department of Industry, Energy and Technology (IET) on behalf of the Corporation.

Deadline:

Continuous Intake

Eligibility:

Applicants must be developers, contractors, and commercial property owners undertaking new purpose-built residential rental development projects in Newfoundland and Labrador

Application Steps:

Applicants must send an e-mail to RHDLP@gov.nl.ca .

Documentation Needed:

No specific documentation has been identified.

Web Page:

https://www.gov.nl.ca/iet/rental-housing-development-loan-program/
Maurice

About the author

Maurice
Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Atlantic Canada to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.