City proposes plan to get more affordable rental housing built in Mississauga

The plan recommends financial incentives for developers and homeowners who want to build affordable rental housing citywide.

The City is working on a plan to encourage the construction of more affordable rental housing in Mississauga. If approved, the plan will offer grants and financial incentives for a variety of rental units – from larger-scale apartment buildings to additional residential units like garden suites and basement apartments. The need for affordable housing is an important issue, affecting one in three households in Mississauga. For renters, housing affordability is especially challenging.

Creating more affordable rental units is an important part of Mississauga’s Action Plan for New Housing. Encouraging purpose-built rental housing is important because:

  • Rental properties are more attainable for those who are new to the housing market or who have moderate incomes.
  • Properties that are built specifically for the rental market provide more security for tenants over the long term (as they are more likely to remain rental stock).
  • Increasing rental housing supply is important but the City needs a variety of housing types to meet the needs of our diverse community.

Public Meeting

The City is holding a public meeting at Planning and Development Committee, to give an overview of our proposed Affordable Rental Housing Community Improvement Plan (CIP) and take feedback. A CIP is a tool under the Ontario Planning Act that allows the City to provide incentives such as grants and loans to help encourage development.

The CIP will be funded, in part, through funds received from the federal Housing Accelerator Fund. In December 2023, the Government of Canada and the City of Mississauga announced a $112.9 million agreement under the fund to help deliver more homes and improve affordability.

Meeting details

When

Tuesday, May 21, 2024, at 6 p.m.

Where

Planning and Development Committee

Council Chambers, Civic Centre

Participate

Watch the live stream on the City’s website (without registering) or join in person at City Hall. Instructions on how to register to share your feedback at the meeting are included in the Planning and Development Committee meeting agenda.

Background

The Affordable Rental Housing CIP is a key action under Growing Mississauga: An Action Plan for New Housing. This action plan identifies steps the City is taking to get more homes built, streamline building approvals and make homes more affordable. It builds on the success of the City’s previous housing plans including Making Room for the Middle: An Affordable Housing Strategy for Mississauga.

Visit the City’s Affordable Rental Housing CIP webpage to learn more and sign up for project updates.