New Programs Aid Housing Development Costs

PEI has launched $25M in new programs to create 700 residential lots. The Municipal Infrastructure Fund, managed by the Federation of PEI Municipalities, offers grants up to $300,000 for extending water, sewer, roads, and sidewalks. The Subdivision Development Financing Program provides low-interest loans covering up to 90% of costs. Additionally, the Building Acceleration Grant supports road infrastructure for existing lots, aiming to boost housing development and affordability across the province.