Ottawa to Offer Universities, Colleges Low-Cost Loans to Build New Student Housing
Published on January 29, 2024
Housing Minister Sean Fraser says post-secondary institutions will be able to apply for low-interest loans to build student housing starting this fall. Post-secondary institutions will have access to a pre-existing program that offers developers low-cost financing to build rental apartments. The Apartment Construction Loan Program was topped up with an additional $15 billion this fall, bringing the total funding available to $40 billion. Mr. Fraser is making the announcement on Jan. 29 alongside other cabinet ministers as the House of Commons returns after a winter break. The announcement comes as the federal government grapples with a ballooning international student program that has added strain to local housing markets....