On November 13-14, 2024, City Council adopted EX18.2 - Build More Homes: Expanding Incentives for Purpose Built Rental Housing report endorsing a new stream under the Rental Housing Supply Program to support purpose-built rental housing developments across the city. City Council directed staff to launch a Quick Start Call for Applications to support 7,000 new rental homes including at least 1,400 affordable rental homes, and report directly to City Council on December 17-19, 2024 with an update on the results of the Call for Applications. The Call for Applications for Purpose-built Rental Housing Incentives stream opened on November 18 and closed on November 29, 2024. Staff are currently reviewing the applications and will prepare a report to be considered by City Council, providing an update on the Call for Applications and a summary of any applications approved.
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