Toronto announced it is accepting requests for proposals for its $21.5 million Multi-Unit Residential Acquisition Program (MURA) in a news release on April 14, 2023.
The city said the program will allow the non-profit housing sector to apply for funding to purchase, operate, and renovate affordable housing for low-income residents in Toronto.
According to the release, successful applicants can receive up to $150,000 for multi-purpose homes and $200,000 for apartment buildings per unit.
The city said 20 per cent of MURA funding will be allocated to Indigenous housing organizations to support low-income Indigenous people.
MURA expands the city’s efforts to build more affordable homes, as the city previously released its 10 year housing action plan with a commitment to build 40,000 new homes by 2030.
The city said requests for proposals will close on May 25, 2023.