You may qualify for a grant to restore a historic building in Toronto. Several Grants are offered through the National Trust for Canada based on your location within Canada, the type of project you are conducting, and the specific building and its significance in terms of Canada’s history.
According to the official National Trust for Canada website, the majority of available grants include a percentage of the total cost, up to 50% of eligible expenses. Eligible costs may vary, as well as the ways in which funds are matched. For instance, it may entail donated labour or materials. In most cases, funds are only available for façade improvements.
Available Grants to Restore Heritage Properties in Ontario
To learn more about obtaining any of the grants listed below, visit the National Trust for Canada website.
The Heritage Property Grants Program contributes up to 50% of eligible costs for work, they do so every 2 years.
The Designated Heritage Property Grant Program offers up to $900 of architect and engineer fees, and matches grants up to $3,000 per property for other approved expenses.
The Heritage Building Improvement Grant Program is aimed at renovating the city centre. They offer up to 50% of eligible costs (up to $5,000) to improve designated properties and properties included in Heritage Conservation Districts.
The Designated Heritage Property Grant Program gives out one grant per year. This grant provides up to $5,000 towards conservation projects for heritage properties.
The Heritage Grant Program for Building Restoration will provide grants that match up to $5,00 of approved work on historic buildings, and buildings located in a heritage conversation district.
The Heritage Grant Program offers approved designated heritage properties a grant totaling 50% of costs. The maximum grant offered through this program is $10,000 for residential properties. There is no cap on grant money provided to multi-residential, institutional, and industrial buildings.
Port Hope Heritage, which is the municipal heritage advisory committee, offers one of the larger grants for conservation efforts on historic properties. They pick 5 projects each year to fund through matching grants. These projects are typically for façade restoration or “features identified in designation bylaw.”
The Municipal Heritage Committee of Sault Ste. Marie offers grants for up to 66% (totaling a maximum of $3,000) of conservation projects.
Special Loans to Conduct Heritage Restoration
If you aren’t able to secure a grant, you may qualify for special loan offers for restoration on historic properties. For instance, The Port Hope Branch of the Architectural Conservancy of Ontario offers “near prime rate loans” for commercial or residential projects that meet qualifications. In addition, the Town of Markham offers short-term loans for heritage feature restoration as well as to replicate destroyed or lost aspects of designated heritage properties. Loans may be used as part of the matching funds if using with a heritage grant.
Learn more on the National Trust for Canada website
The Importance of Grants to Restore Heritage Properties
There are many grant and loan opportunities to restore heritage properties because of the significance history plays in Canada, and all throughout the world. If heritage properties are not properly maintained and updated, they will not last into the future. It is equally important that restoration work is completed correctly. There are many potential mistakes when working on historic buildings, that’s why you need a trusted industry expert who understands how buildings were constructed hundreds of years ago.
We specialize in historic restoration work, learn more.