Affordable Housing Feasibility Studies
There are several scenarios and purposes where a housing feasibility study is required.
For projects designed to bring more housing to a community, construction, architecture, and engineering feasibility may be the priority. Even though your community has a documented shortage of affordable housing, funding agencies such as CMHC require you to conduct a feasibility study. A business case is still important but addressing social need and technical aspects might be the priority.
Other housing related projects could focus on a start-up construction company or its expansion and the focus is on the business case.
A third scenario might see an organization looking to test the feasibility of providing or facilitating financing for owners or construction companies who are interested in building homes.
Housing Feasibility Study Resources
Below are three recourses to help your organization better understand the requirements of affordable and social housing projects.
A Step-by-Step Guide to Developing Affordable Housing
Organizations across Canada use this guide to better understand the many aspects of affordable housing development. According to this guide, there are ten steps in housing development and up to seven of them are feasibility study related – that’s where we can help you.
CMHC Community Housing Viability Assessment
CMHC provides some very useful Excel financial templates to help you in a potential seed funding application.
Affordable Housing Fund: Indigenous and Northern Housing Enhanced
There are multiple funding streams for Indigenous housing. Not all of these funding sources require a feasibility study. Larger housing projects may require a feasibility study and grants for the study may also be available. Pricing and for More Information
Our feasibility study costs start at $20,000 which would be for a simple business proposal and the primary research and analysis required. Because of the scope a business can have, and the required research and analysis, feasibility studies have no upper cost limit.
After we better understand your project, some of the initial questions that we can answer are:- A breakdown of our services and deliverables
- Estimated timelines for completion
- Fee structure (per site or combined)
- Any documentation or inputs required from your organization
- Whether a site visit would be necessary at this stage