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Developers Making Rent More Affordable

The Capital Rent Subsidy provides sponsors with a one-time forgivable capital loan to construct affordable housing in communities with demonstrated need.  The loan is forgiven when the sponsor has reduced the rents charged to eligible moderate-income tenants for a period of 10 years.   

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1. Benefits

For sponsors (owners/developers):

  • Receive a one-time forgivable loan of $40,000 per subsidized unit provided by Saskatchewan Housing Corporation.

For eligible tenants:

  • Receive a subsidy of at least $300 per month to make their rent more affordable.
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2. Eligibility

Sponsors are eligible if they:

  • Are registered to conduct business in Saskatchewan;
  • Are a non-profit or for-profit corporation, co-operative, First Nations band, or municipality; and
  • Practice good governance.

A project is eligible if:

  • It is under construction now, or is construction-ready, and the site is properly zoned and owned by the developer;
  • The site passes the Canadian Environmental Assessment Act form.
  • It is not yet occupied;
  • It is not a secondary suite, building camp, group home, nursing home, special care home, or life lease units;
  • It has a minimum of four units;
  • The Capital Rent Subsidy is available to a maximum of 50% of the total units in the project;
  • The market rent levels are confirmed through a market rent appraisal as agreed upon by Saskatchewan Housing Corporation and the subsidized rent is the market rent level reduced by the $300 per month subsidy;
  • Its full capital cost (excluding funding from this program) is covered by approved financing or other funding;
  • It is located off reserve; and
  • The subsidized units are rented to clients whose households are a suitable size for the unit (according to the National Occupancy Standards) and whose incomes are below the limits determined by Saskatchewan Housing Corporation (see the table below). 

Proposals will be evaluated based on:

  • Eligibility of the sponsor and project;
  • Completeness of the proposal (including the submission of a building permit, proof of capital financing/funding, proof of mortgage insurance, and market rent appraisal);
  • Construction readiness;
  • Availability of Capital Rent Subsidy funding;
  • Indication of apprenticeship component;
  • Current and long-term need and demand; and
  • Tenant affordability and income (priority will be given to projects with subsidized rents that are affordable for clients with the lowest incomes).

Tenants may be eligible if:

  • They have annual gross household incomes at or below the limits established by Saskatchewan Housing Corporation:

Moderate income

 Household Type
 One-Bedroom 
 Two-Bedroom
 Three-Bedroom   Four-Bedroom 
 Non-disabled
 Disabled
$38,000
$43,700

$46,000
$52,900

$55,000
$63,300
$66,500
$76,400
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3. How to apply

Proposals under the Capital Rent Subsidy may be submitted by sponsors through a Request for Proposal process.

During the proposal call, sponsors should:

  1. Confirm that their organization and project are eligible for the Capital Rent Subsidy.
  2. Complete the Capital Rent Subsidy Application Booklet;
  3. Submit the application form
 
By Fax
306-933-5374
By Email

CRSSHC@gov.sk.ca

By Mail Saskatchewan Housing Corporation
225 First Avenue North
Saskatoon, SK  S7K 1X2
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4. Apply

There is no active Request for Proposal process for the Capital Rent Subsidy at this time.
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5. Further Information

The Capital Rent Subsidy is jointly funded by Canada Mortgage and Housing Corporation and Saskatchewan Housing Corporation.

  • Funding levels, targeted communities, and other factors are subject to change.
  • Updated documents will be made available in the Request for Proposal materials.

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