Monday, February 6th, 2023
  • By Sue Aitken
  • Posted Monday, Nov 28, 2022 1:47 pm

Hamilton Offering $30,000 Grant to Homeowners Adding Rental Suite

With average rent in Hamilton just under the $2,000-mark, the city is more in need of affordable rental stock than ever. As such, the City of Hamilton is offering $30,000 to local homeowners interested in adding a rental suite to their property — or renovating an existing one.

The Ontario Renovates Secondary Suites Forgivable Loan Program (OPHI), launched earlier this month, is a move to supply the city’s rental segment while allowing homeowners to capitalize on the hot housing market. Through the pilot phase of the program, eligible homeowners can apply to receive $30,000 in financial assistance in the form of a $25,000 forgivable loan, and an additional grant of $5,000 if accessible modifications are included in the project... [READ MORE]

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