INTRODUCING THE DOWNTOWN MARKET HOUSING INCENTIVE PROGRAM

Source: City of Brandon Media Release - June 18, 2024

INTRODUCING THE DOWNTOWN MARKET HOUSING INCENTIVE PROGRAM - A NEW OPPORTUNITY FOR HOUSING DEVELOPMENT IN DOWNTOWN BRANDON

Brandon, MB - The area with the highest zoning density in the City of Brandon is ready for a makeover after Brandon City Council approved the Downtown Market Housing Incentive Program. This initiative aligns with the Downtown Brandon Secondary Plan's vision to create a vibrant, high-density residential community that accommodates different income levels.

The new incentive program aims to accelerate residential growth, using strategies such as tax credits, development charge off-sets, and capital grants to spur more residential development.

The Downtown Market Housing Incentive Program incentives differ, depending on the area of the downtown the property is in:

• Tax credit for up to 20 years

• Development Charges may be offset up to 100 percent

• Capital Grants (per dwelling unit) are offered depending on the number of bedrooms.

The program will help promote new residential development, attract investment, establish market momentum, and improve vibrancy in downtown Brandon.

With the enactment of this By-Law, City Council, along with key partners, including the Downtown Wellness and Safety Task Force, Economic Development Brandon, and Brandon Downtown Development Corporation are looking forward to collaborating with the City of Brandon to help make downtown Brandon a dynamic neighbourhood.

410 - 9th Street, Brandon, MB R7A 6A2 | www.brandon.ca Mayor Jeff Fawcett said “City Council’s recent decision to create the Downtown Market Housing Incentive is transformative for our city. By approving the Downtown Market Housing Incentive Program, we are enhancing our city’s core together with our key partners that are committed to seeing downtown Brandon flourish.”

Reflecting the Mayor’s views, Gerald Cathcart, Director of Economic Development Brandon, emphasized the economic implications: “This program is more than just a housing strategy; it’s a driver for economic growth. It will attract investment, create jobs, and most importantly, build a stronger community.”

The Brandon Downtown Development Corporation (BDDC), which has been involved in reviewing financial incentives, welcomed the decision. “The BDDC’s recommendations have been listened to. We’re excited to see the city take concrete steps towards a new downtown market housing program,” stated Emmanuel Ahaneku, Executive Director with BDDC.

Applications will be accepted in person at the A.R. McDiarmid Civic Complex, located at 638 Princess Avenue, or online via housingincentive.brandon.ca.