CANADA, May 21 - The province is investing $10 million in a pilot program to help increase the supply of permanently affordable rental housing across Prince Edward Island.

A commitment of government’s 2024-2025 operating budget, the Community Housing Expansion Pilot will provide funding to the non-profit and co-operative housing sector to grow their housing portfolios through both acquisitions and new construction.  The pilot aims to support 120 units for acquisition in 2024-25, while building a pipeline for new construction and acquisition projects in future years.

“Many people don’t qualify for public housing because their income is too high, but they don’t make enough to pay market rates either. By working with the community sector, we can meet the housing needs of people with low- and moderate-income levels and help them find safe, secure, and affordable homes for the long-term. We will continue to find solutions to increase the supply of permanently affordable rentals and assist with creating ways for all Islanders to have a place to call home in line with our provincial housing strategy.”

- Housing, Land and Communities Minister Rob Lantz

The province has issued an Expression of Interest for non-profits and co-operative organizations interested in participating in the pilot.

Learn more about the provincial housing strategy.

Media contact:
April Gallant
Department of Housing, Land and Communities
aldgallant@gov.pe.ca