To increase housing supply, the Government of Canada and Province of Prince Edward Island have reached a new funding agreement, directing close to $86.2 million toward housing enabling infrastructure.
This long-term predictable funding, delivered over 10 years under the Canada Housing Infrastructure Fund (CHIF), will accelerate housing development, increase densification, and help meet the growing demand for affordable housing. This investment, alongside the Province's Building Together housing strategy, aims to ensure access to adequate, affordable, and suitable housing for Islanders.
The new funding will support a variety of projects from provincial housing, provincial Crown corporations, municipal governments, Indigenous organizations, non-profits, and private sector partners. CHIF will fund either capital or planning projects aimed at building new, or expanding or rehabilitating existing, drinking water, wastewater, stormwater or solid waste infrastructure in order to enable more housing.
The Province acknowledges the urgent need to deliver financial support to applicants. To streamline this process, webinars will be held throughout February to guide applicants and support the rapid distribution of funds. The deadline for the first intake of applications is May 1, 2025. Register for a webinar and apply for funding on the Prince Edward Island website.
Under the Canada Housing Infrastructure Fund, $5 billion announced to provinces and territories over 10 years will support long-term infrastructure priorities necessary for new housing supply across Canada. Additionally, $1 billion is available through the Direct Delivery Stream for municipalities and Indigenous communities with urgent infrastructure needs to help enable more housing.
