New Housing Grants Available in Riverview

(RIVERVIEW, NB) - The Town of Riverview is proud to announce the launch of two new housing grants made possible by a Housing Accelerator Fund agreement between the Town and the Canada Mortgage and Housing Corporation. This federal program aims to help to boost housing supply while supporting affordable, diverse and climate-resilient communities.

Local housing needs are evolving. The Town has been hearing from residents belonging to various demographics on their housing needs, such as downsizing options for seniors, multi-bedroom units for larger and/or multi-generational families, rentals for young adults entering the market, garden and in-law suites for the large majority of residents that own their property, and affordable and barrier-free options for those in need. With this in mind, the Town is incentivizing the creation of more housing choices for all walks of life.

This week marked the official launch of Riverview’s very first Housing Accelerator Fund Garden and In-Law Suite Development Grant. With the objective of increasing the supply of “missing middle” housing formats and promoting more housing options for family members, seniors, and other community members, this initiative would provide homeowners the opportunity to access $15,000 for the creation of an accessory dwelling on their property containing an existing primary residence, in allowable residential zones. The town is home to large-scale developers and handy residents alike, and this initiative would aim to create opportunities for average homeowners with the potential to create soft density in their neighbourhoods.  

The Town’s second new grant program launched this week - the Housing Accelerator Fund Affordable, Barrier-Free, and 3-Bedroom Unit Development Grant - which has the objective of promoting an increased supply of high-demand housing units. This initiative would provide developers the opportunity to access a grant for the creation of affordable, barrier free, and 3-bedroom dwelling units. Successful applicants could receive up to a maximum of $20,000 per unit for for-profit developers, and $25,000 per unit for non-profit developers, if creating new units representing specified market gaps in Riverview. Given the opportunity to offset their development costs, the Town hopes to see developers, both for-profit and non-profit, rise to the occasion and further contribute to providing housing options to our Town’s most vulnerable populations.

Application forms for the Town’s new housing grants are available here on our website and can be filled out and submitted via email to economicdevelopment@townofriverview.ca.