PEI launches $10M affordable housing pilot

Prince Edward Island is launching a $10 million pilot program to boost the availability of permanently affordable rental housing throughout the province. As part of the government’s 2024-2025 operating budget, the Community Housing Expansion Pilot will support the non-profit and co-operative housing sector in expanding their housing portfolios through acquisitions and new construction. This initiative aims to support the acquisition of 120 units in 2024-25 while also laying the groundwork for future construction and acquisition projects. By partnering with the community sector, the government aims to meet the housing needs of low and moderate-income residents, ensuring they have access to safe, secure, and affordable homes for the long term. Rob Lantz, Housing, Land and Communities Minister, emphasized the ongoing efforts to find solutions that increase the supply of permanently affordable rentals, aligning with the provincial housing strategy to ensure all Islanders have a place to call home.