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Proposed Expansion - Prairie Village could add 24 new affordable housing units in Brooks. The City has committed land, and planning work and feasibility studies are complete. Prairie Village covers its own operating costs, carries no debt, and holds significant assets. But like most non-profit housing providers, growth depends on securing outside funding. Rent limits keep units affordable, but also limit the ability to generate surplus for expansion. Most tenants are working households earning roughly $20,000 to $50,000 annually. Current rents range from $772 to $1,060 per month, including utilities. The proposed expansion funding model relies on a mix of sources: $700,000 in owner equity already secured $1.06 million still needed from equity partners $2.04 million from provincial housing programs (AHPP) $200,000 from CMHC seed funding approximately $3 million in mortgage financing
Several of these components remain subject to application and approval. The next step is securing equity partners; without it, the provincial grant application cannot move forward.
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