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CANADA SUPPORTS 260 NEW AFFORDABLE HOMES IN TORONTO

TORONTO, July 8, 2022 /CNW/ - Everyone deserves a safe and affordable place to call home.

CMHC Logo (CNW Group/Canada Mortgage and Housing Corporation)
CMHC Logo (CNW Group/Canada Mortgage and Housing Corporation)

Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, along with Julie Dzerowicz, Member of Parliament for Davenport, James Maloney, Member of Parliament for Etobicoke-Lakeshore, John Tory, Mayor of Toronto, and Ana Bailão, Deputy Mayor of Toronto and Councillor for Davenport, announced over $105.5 million in federal funding to create an estimated 260 new homes in Toronto through the Rapid Housing Initiative (RHI). These homes are part of seven different projects, located at:

  • 136 Kingston Road, $9.5 million

  • 525 Markham Road, $26.6 million

  • 25 Augusta Avenue, $12.5 million

  • 60 Bowden Street, $19.8 million

  • 150 Eighth Street, $31 million

  • 1120 Ossington Avenue: $4.5 million

  • 1080 Queen Street East, $1.6 million

New investments under the RHI will create thousands of good jobs in the housing and construction sector, grow the middle class, and build back stronger communities while getting us closer to our goal of eliminating chronic homelessness in Canada.

Quotes:

"Everyone deserves a safe and affordable place to call home, and the pandemic only exacerbated the real housing challenges people were facing. That's why the Rapid Housing Initiative was created - to support those most vulnerable across Canada, including right here in Toronto. These new homes will provide stability and safety to their residents and are another way our National Housing Strategy is ensuring no one is left behind." – The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"Through the Rapid Housing Initiative, our federal government is investing in safe, affordable and supportive housing here in Davenport and across Canada. This program helps to reduce chronic homelessness and ensure that more Canadians have a place to call home. There is more work to do, and I remain committed to working with my colleagues and the community to create more affordable and accessible homes in Toronto, improving the quality of life for those who need it most. This is our National Housing Strategy in action." Julie Dzerowicz, Member of Parliament for Davenport

"I am committed to getting more housing built. These seven projects announced today demonstrate how our governments and community partners are working together to get more housing built as soon as possible. Supporting Indigenous-led housing projects and creating new supportive and affordable homes is an important part of the affordable housing strategy in our HousingTO 2020-2030 Action Plan and I look forward to seeing these projects get up and running." John Tory, Mayor, City of Toronto

"The City is grateful for all available funding from other orders of government to create homes with support services for the most vulnerable residents living in Toronto. With the help of our non-profit partners, we are on track to achieve our target of 18,000 new supportive homes over ten years in the HousingTO 2020-2030 Action Plan." – Ana Bailão, Deputy Mayor of Toronto, Councillor for Davenport, and Chair of the Housing and Planning Committee

Quick facts:

  • Through this investment, 86 units will be set at affordable rates.

  • The Rapid Housing Initiative (RHI) is a $2.5 billion program under the National Housing Strategy (NHS) to help address the urgent housing needs of vulnerable Canadians, especially in the context of COVID-19, through the rapid construction of over 10,000 units of affordable housing.

  • The RHI takes a human rights-based approach to housing, serving people experiencing or at risk of homelessness and other vulnerable people, including women and children fleeing domestic violence, seniors, young adults, Indigenous peoples, people with disabilities, people experiencing mental health and addiction issues, veterans, LGBTQ2S+ individuals, racialized and Black Canadians, recent immigrants, and refugees.

  • Units are intended to be constructed within 12 months of funding being provided to program applicants (with some exceptions). Units in the North and remote communities are intended to be constructed within 18 months.

  • Budget 2022 proposes to provide $1.5 billion over the next two years to extend the RHI and create 6,000 additional affordable housing units across Canada, with at least 25% of funding going towards women-focused housing projects.

  • The Government of Canada's National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest over $72 billion to give more Canadians a place to call home.

Associated links:

  • As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aim is that by 2030, everyone in Canada has a home they can afford, and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.

  • Check out the National Housing Strategy Housing Funding Initiatives Map to see the affordable housing projects that have been developed across Canada.

Government of Canada Logo (CNW Group/Canada Mortgage and Housing Corporation)
Government of Canada Logo (CNW Group/Canada Mortgage and Housing Corporation)

SOURCE Canada Mortgage and Housing Corporation

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2022/08/c0088.html