On September 26, 2026, Peace River Town Council moved to approve the Residential Development Grant Policy, effective January 1, 2027, for a three-year pilot period ending December 31, 2029. This includes an annual program budget of $200,000, subject to approval through an annual budget process.
The Town of Peace River has identified the development of new housing as an important component of supporting community growth. The grant program provides a consistent and accessible incentive for residential development in Peace River and includes grants related to:
- New Residential Building – first dwelling unit $20,000
- Each additional dwelling unit in the same New Residential Building $2,000 per additional unit, to a maximum total grant of $30,000
- Accessory Dwelling Unit $10,000
- Demolition of an Eligible Derelict Building $10,000
Applicants may qualify for multiple grants and may submit applications at any stage of development; however, applications must be submitted before the eligible development is completed and occupied, in accordance with the Policy. Applications for demolition grants must be submitted before the demolition is completed and must be submitted within one year of demolition if seeking additional building grants. Grants will be issued on a first-come, first-served basis until the annual budget allocation is exhausted.
Details on how to apply for the grant are being finalized.