Applications open for Credit River Way
Credit River Way provides an affordable rental opportunity for residents. There are a limited number of accessible units of each size available. Rent amounts are a percentage of median market rent (MMR) and determined by unit size and gross household income. There are a limited number of units available at each rental rate.
| Credit River Way rent scale | |||
|---|---|---|---|
| Unit type | 60% MMR | 80% MMR | 100% MMR |
| Studio | $604.00 | $809.00 | $1,012.00 |
| 1 -bedroom | $880.00 | $1,180.00 | $1,475.00 |
| 2 - bedroom | $996.00 | $1,336.00 | $1,670.00 |
| 3 - bedroom | $1,061.00 | $1,422.00 | $1,778.00 |
*Rent amount does not include hydro. All successful applicants will be required to set up hydro for their unit with Carma utilities.
| Gross income ranges | |||
|---|---|---|---|
| Unit type | 60% MMR | 80% MMR | 100% MMR |
| Studio | $20,709 - $27,877 | $27,878 - $37,338 | $37,339 - $46,708 |
| 1 - bedroom | $30,171 - $40,615 | $40,616 - $54,462 | $54,463 - $68,077 |
| 2 - bedroom | $34,149 - $45,969 | $45,970 - $61,662 | $61,663 - $77,077 |
| 3 - bedroom | $36,377 - $48,969 | $48,970 - $65,631 | $65,632 - $82,062 |
*These income ranges will be assessed in conjunction with the rental application, credit check and landlord history.
All rental units at Credit River Way are subject to Housing in Peel policy regarding Occupancy Standards.
Parking is limited at Credit River Way and only 1 parking space will be permitted per unit and is subject to availability.
Credit River Way is a Smoke Free building, this policy is strictly enforced.
Tenant insurance is a requirement in Peel Living’s lease agreement. Access information on tenant insurance options. Proof of insurance is required prior to move in and annually thereafter.
Review the criteria carefully to ensure eligibility before completing the Expression of Interest Form. It’s important the information provided in the Expression of Interest is accurate. The information provided in the form will be used to conduct a preliminary screening of prospective applicants’ eligibility for the unit size they are applying for.
Application process
Interested applicants are asked to complete the Expression of Interest form by January 6, 2025.
Eligible applicants who completed the Expression of Interest form will be randomly selected to complete a rental application. The contact information provided in the Expression of Interest will be used to contact you. Applicants will be asked to provide verification of household income, housing history including landlord references, verification of household assets and consent to a credit check.
Applicants who submit a completed rental application and are determined eligible will be offered a unit, appropriate for their household, that is randomly selected for them. Applicants will have the opportunity to view the unit they are being offered, if that unit is declined, they are declining to proceed with their application for Credit River Way.
Move ins to Credit River Way will begin in January 2025. Peel Living will only contact prospective applicants selected to complete the full rental application.
Do not reach out to follow up on your application unless contacted directly by a representative of Peel Living.
When all units at Credit River Way are rented, we will update the website to state that all units have been filled.