Private stock strategy
Providing incentives for homeowners and landlords to increase the supply of affordable housing units.
Optimize existing stock is a strategy in the 10-year Peel Housing and Homelessness Plan.
There are 8 initiatives under this strategy:
Leveraging private homes
- Second unit renovation assistance program
- Youth host homes program
- Seniors housing solutions
- Co-housing for non-seniors
Partnerships with private landlords
- Landlord engagement program
- Permanent housing solution for high-acuity single homeless men
- Renovations and conversions of non-residential sites into affordable rental housing
- Faith-based housing partnerships
Staff will report to Regional Council on the development of each of the initiatives as they are designed for implementation.
Addressing urgent housing needs
To support initiatives within the Private Stock Strategy, including the My Home Second Unit Renovation Program, as well as increases to emergency shelter beds and street outreach services, the Region reallocated base funding from 5 former housing programs.
This puts us in a better position to address the urgent housing needs of Peel’s most vulnerable residents while using tax investments in a responsible manner.
The 5 discontinued grants programs include:
- Active Living Design Elements Grant Program
- Affordable Housing Capacity Building Grants Program
- Habitat for Humanity Grant Agreement
- Home in Peel Down Payment Assistance Program
- Peel Renovates Homeowner’s Renovation Assistance Program
Learn more about the new My Home Second Renovation Program and how you can apply.