Boost Your Property Value: Navigating St. Catharines' ADU Opportunities with Buildlite

In an exciting development for homeowners and the community, the City of St. Catharines secured a $25.7 million investment in January 2024 through the Canada Mortgage and Housing Corporation’s (CMHC) Housing Accelerator Fund. This substantial funding aims to expedite the development of new homes, including Accessory Dwelling Units (ADUs). In this blog post, we'll explore how these opportunities can significantly boost your property value and how Buildlite can guide you through the process.

The Housing Accelerator Fund & Its Impact

The Housing Accelerator Fund (HAF) is a federal initiative providing financial support to local governments to increase housing supply. For St. Catharines, this means more resources to encourage the construction of ADUs, addressing housing shortages and stimulating economic growth.

Enhanced ADU Grant Program Details

Following the HAF investment, on August 26, 2024, the City Council approved amendments to the ADU grant program:

1. Increased Grant Amounts:

   • Interior ADUs: Grants up to $40,000.
   • Exterior ADUs: Grants up to $80,000.

2. Flexible Application Process:

   • Submit a complete ADU application within 90 days of Building Permit issuance.
   • Multiple ADU applications per property are now permitted, with a cumulative grant cap of $80,000 per property.

Why Invest in an ADU Now?

• Leverage Generous Funding: With increased grant amounts, you can cover up to 70% of your ADU project costs.
• Enhance Property Value: ADUs are a smart investment, offering high returns through rental income and property appreciation.
• Contribute to Community Growth: Help alleviate housing shortages and support local economic development.
• Stay Ahead of Deadlines: Act before crucial dates, like the Notice of Appeal Deadline on September 18, 2024.

Step-by-Step Guide to Applying for the ADU Grant

1. Initial Consultation with Buildlite:

   • Discuss your vision and assess your property's suitability for an ADU.

2. Design Phase:

   • Collaborate on custom designs that meet your needs and comply with city regulations.

3. Permitting Process:

   • Prepare and submit building permit applications with our assistance.

4. ADU Grant Application:

   • Complete and submit your grant application within 90 days of permit issuance.

5. Construction:

   • Begin building your ADU with Buildlite's professional team ensuring quality and efficiency.

6. Project Completion and Follow-Up:

   • Final inspections and approvals.
   • Enjoy the benefits of your new ADU.

Buildlite's Comprehensive Services

• Expert Guidance: Navigate the complexities of the ADU grant application and construction process.
• Customized Solutions: Tailor-made designs for both interior and exterior ADUs.
• Regulatory Expertise: Ensure full compliance with all local bylaws and building codes.
• Quality Assurance: Commitment to high standards in materials and craftsmanship.

Don't miss this opportunity to enhance your property and contribute to St. Catharines' growth. Contact Buildlite today to start your ADU project.