Housing

Status: Accepting Applications- 3rd installment

Program Dates: April 20 to June 1, 2026

Supplementary Funding: Up to $4,000 is available for applicants who get their building permit by September 30, 2026

What is the goal of this initiative?

We understand that access to both land and capital to build dwellings presents a major challenge in Watson Lake. This initiative aims to make use of the existing residential properties within our community and avoid delays in building new dwellings due to a lack of available land.

It also works to address capital challenges by providing direct funding to property owners to build.

How will we achieve our goal?

We have developed a grant program that will provide private property owners with access to grants to develop housing on property that they own or are in the process of purchasing.

Funding can be used to build single family homes, suites, and multi-family units. $40,000 is available per new dwelling, up to a maximum of $120,000 per applicant for multi-family housing.

How do I apply? When will this be happening?

Applications for the program are due by 4:30pm on June 1, 2026, 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; or,
3. You have an Agreement for Sale with the Yukon Government for a vacant lot;
4. The property and proposed development(s) comply with the Town’s Official Community Plan, Zoning Bylaw and the National Building Code; and 
5. Property taxes for the property are paid and the property owner is in good standing with the Town of Watson Lake.

What are the conditions of funding?
Key conditions:

• Grant funding will be provided at 50% completion of the project and at 100% completion of the project
  
• A building permit must be obtained from Yukon Government before December 31, 2026
  
• Awarded projects must be suitable for year-round habitation as determined by the Town of Watson Lake and applicable building codes.
  
• Dwellings built using Watson Lake HAF funding may not be used as short term rentals.

* Other conditions may apply - see the Housing Development Grant Policy for further details

If you have questions about this initiative contact housing@watsonlake.ca

Status: Accepting Applications- 3rd installment

Program Dates: April 20 to June 1, 2026

Supplementary Funding: Up to $4,000 is available for applicants who get their building permit by September 30, 2026

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 help convert underutilized properties and buildings into homes by providing funding directly to property owners.

How will we achieve this goal? 

The Residential Conversion Grant program is a HAF initiative that will give property owners access to 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 4:30pm on June 1, 2026, 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. 

What are the conditions of funding?
Key conditions:

• Grant funding will be provided at 50% completion of the project and at 100% completion of the project.
• A building permit must be obtained from Yukon Government before December 31, 2026
• Awarded projects must be suitable for year-round habitation as determined by the Town of Watson Lake and applicable building codes.
• Dwellings built using Watson Lake HAF funding may not be used as short term rentals
  
  

* Other conditions may apply - see the Residential Conversion Grant Policy for further details

If you are interested in learning more about this initiative, please contact housing@watsonlake.ca

The Town of Watson Lake Mortgage Accessibility Report examines the systemic, regional, and local barriers that limit residents’ ability to access mortgage financing and achieve homeownership. The scope of the report is to understand why conventional mortgage lending models often fail in small, northern, and rural communities, and to identify practical pathways to improve housing market participation in Watson Lake. The study was undertaken in response to ongoing housing shortages, limited new construction, and persistent challenges faced by residents attempting to buy, sell, or finance homes.

The report evaluates key factors affecting mortgage accessibility, including lending and appraisal practices, income and affordability constraints, permitting and legal processes, availability of real estate and construction services, and broader market conditions unique to Watson Lake. It aims to address the disconnect between national mortgage standards and local housing realities, where homes may be structurally sound and functional but undervalued or deemed ineligible under standard lending criteria.

Key recommendations include:
• Advocating for policy and lending reforms that better reflect rural and northern housing markets.
• Strengthening local capacity in real estate, appraisal, permitting, and construction to support mortgage-ready housing stock.
• Reducing administrative and procedural barriers that delay or prevent mortgage approvals.
• Supporting coordinated, community-led implementation with the Town acting as a facilitator and advocate.

If implemented, the report’s recommendations aim to improve mortgage approval outcomes, encourage new housing development and reinvestment in existing homes, and support long-term housing stability and increased homeownership opportunities for Watson Lake residents.

If the report document isn't working right, click on this permalink to find a link to download the Town of Watson Lake Mortgage Accessibility Report

Status: Accepting Applications

Program Dates: April 20 to June 1, 2026

What is the goal of this initiative?

The Suite Renovation Grant is designed to help bring more rental housing to Watson Lake by supporting property owners to upgrade existing suites.
Whether a suite isn’t currently legal or just needs improvements, this program helps cover the cost of getting it ready—so more homes can become available in the community.

How does it work?

This program provides funding to property owners to improve existing suites so they can be rented out or brought up to market standard.

There are two types of projects that can receive support:
Non-legal suites:

• If you have a suite that isn’t currently legal, you can receive up to $20,000 to upgrade it so it meets the requirements.

Legal suites:

• If your suite is already legal but needs renovations, you can receive up to $20,000 to bring it up to market standard.

Funding can be used to build single family homes, suites, and multi-family units. $40,000 is available per new dwelling, up to a maximum of $120,000 per applicant for multi-family housing.

How do I apply? When will this be happening?

Applications for the program are due by 4:30pm on June 1, 2026, 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; or,

3. The property and proposed development(s) comply with the Town’s Official Community Plan, Zoning Bylaw and the National Building Code; and

4. Property taxes for the property are paid and the property owner is in good standing with the Town of Watson Lake.

What are the conditions of funding?
Key conditions:

• Grant funding will be provided at 50% completion of the project and at 100% completion of the project.
• A building permit must be obtained from Yukon Government before December 31, 2026
• Awarded projects must be suitable for year-round habitation as determined by the Town of Watson Lake and applicable building codes.
• Dwellings built using Watson Lake HAF funding may not be used as short term rentals
  
  

* Other conditions may apply - see the Suite Renovation Grant Policy for further details

If you have questions about this initiative contact housing@watsonlake.ca.