City of Mississauga awards funding for affordable rental units in eight new developments

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At a Planning and Development Committee on Mar 24, Mississauga announced the recipients of the City’s $44 million Affordable Rental Housing incentive program.

The program, funded in part by the federal Housing Accelerator Fund, will kick-off a new wave of purpose-built rental construction citywide.

Only 2,200 rental units have been constructed in Mississauga since 2005. 

This funding will unlock more than 1,400 shovel-ready rental units including almost 400 with more affordable rents. This represents another step to expand the supply of affordable rental housing for Mississauga residents as the City works to address the housing crisis.

The incentive program, which was approved in July 2024, is designed to help increase Mississauga’s supply of affordable and below-market rental units. 

It also offers financial incentives for private and non-profit rental developers such as capital grants per affordable unit and waivers/grants for certain municipal fees and charges.

The City received a total of 12 applications from a variety of non-profit and private sector developers during an open call for applications.

The eight successful developments, located in six of the City’s 11 wards, will bring 1,450 new purpose-built rental units including 384 units with more affordable rents, 261 units with affordable rents, 123 units with below market rents and a variety of unit sizes including 200 family-sized units.