2. Funding to create homes from underutilized buildings

Status: In Progress

Budget: $400,000 

Awarded so far: $0 

What is the goal of this initiative? 

This initiative aims to support the community's goals for housing and beautification, as noted in the 2021 Official Community Plan. It will fund and help convert underutilized properties and buildings into homes. 

How will we achieve this goal? 

We aim to incentivize the rehabilitation of underutilized, vacant, and non-conforming properties in Watson Lake. To do this, we will provide financial incentives to private property owners.  

The Residential Conversion Grant program is a new HAF initiative that will give property owners access to grants. They can use the grants to convert their underutilized, vacant, or non-residential properties into dwelling units. This could mean replacing an abandoned single-family home. It could also mean turning upper-story office space into an apartment or creating a caretaker's residence on an industrial lot. 

$40,000 is available per new dwelling, up to a maximum of $120,000 per applicant for multi-family housing. 

How many homes do you expect this program to create? 

We expect this initiative to lead to the construction of 10 new dwellings. 

How do I apply? When will this be happening?

Applications for the program are due by 4:30 p.m. on March 31, 2025, by email to housing@watsonlake.ca. Download application forms here.

How do I qualify for the grant? 

You are eligible to apply for this program if you meet the following criteria: 

1. Your property is located within the municipal boundary of the Town of Watson Lake. 

2. Applicants own the property on which the dwelling is to be constructed. 

3. The property must have been underutilized or vacant for at least 12 months before this policy came into effect. 

4. The property and proposed development(s) follow the Town’s Official Community 

Plan, Zoning Bylaw, and the National Building Code. 

5. Property taxes for the property are paid, and the property is in good standing. 

If you are interested in learning more about this initiative, please contact housing@watsonlake.ca. You can also review the Residential Conversion Grant Policy.