TORONTO, May 13, 2021 /CNW/ - Every Canadian deserves a safe and affordable place to call home. The COVID-19 crisis has made it clear that affordable housing is key to Canada's recovery for regions across the country, including right here in Toronto.
Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), alongside Kirsty Duncan, Member of Parliament for Etobicoke North, John Tory, Mayor of Toronto, and Ana Bailão, Deputy Mayor of Toronto, announced details of an approximately $30.5 million investment through the Major Cities Stream of the Rapid Housing Initiative (RHI) for the immediate construction of approximately 113 affordable homes.
The new homes are part of a modular supportive housing build located at 75 Tandridge Crescent, for those who are experiencing or are at risk of experiencing homelessness including women, and black Canadians.
Additional support services will be provided by experienced and qualified non-profit organizations selected by the City of Toronto, with funding support from the Province of Ontario.
Delivered by CMHC, under the National Housing Strategy (NHS), RHI provides capital contributions to develop new, permanent affordable housing by covering costs associated with modular multi-unit rental construction; conversion of non-residential to affordable multi-residential homes; and, rehabilitation of buildings in disrepair and/or abandoned to affordable multi-residential homes. Investments made under the RHI are expected to support thousands of construction-related jobs for Canadians from coast to coast to coast.
"Our Government is taking steps, right now, to ensure that every Canadian has a safe and affordable place to call home. Our investments will go a long way to effectively support those who need it most by quickly providing new affordable housing units to vulnerable individuals and families in Toronto, while addressing the unique barriers faced by at-risk communities, including women and black Canadians. The Rapid Housing Initiative has been a tremendous success – that's why through Budget 2021, we will increase our total program funding to $2.5 billion in order to rapidly build much-needed affordable homes across Canada. This is the National Housing Strategy at work." – The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation
"We are working hard to ensure that every Canadian has a safe and affordable place to call home. Partnering with municipalities under the Rapid Housing Initiative has proven an effective way to provide new accessible and affordable homes to those who need them most. This housing is desperately needed in Etobicoke and across Toronto." – Kirsty Duncan, Member of Parlaiment for Etobicoke North
"This new project in Etobicoke is another example of the work we are doing to expand affordable housing in Toronto while focusing on much-needed support services for vulnerable residents in our city. None of this would be possible without the help of our federal partners so I would like to thank the federal government for their continued support. With their commitment through the Rapid Housing Initiative we are able to move forward at unprecedented speed towards meeting our ambitious affordable housing goals. With this funding, we can help more of our most vulnerable residents have access to stable, long-term housing."– Mayor John Tory
"One of the most challenging aspects of this pandemic is how it has impacted so significantly the most vulnerable people across our City. These new modular supportive homes will provide a stable, comfortable and safe place for approximately 113 people who would otherwise find themselves in shelters, outside or in other unsuitable living conditions. These new homes are not only a place to live but an opportunity for people to live to their fullest potential." – Deputy Mayor Ana Bailão, (Davenport), Planning and Housing Committee Chair
These homes will remain affordable in perpetuity and future residents of these homes will pay no more than 30% of their income (or the shelter allowance of their income support benefit) on rent.
The RHI Major Cities Stream provided $500 million in immediate support to 15 pre-determined municipalities that were identified in consultation with the Federation of Canadian Municipalities (FCM), based on highest levels of renters in severe housing need and people experiencing homelessness.
In Budget 2021, the Government of Canada invested an additional $1.5 billion in new funding for the Rapid Housing Initiative in 2021-2022, to address the urgent housing needs of vulnerable Canadians by providing them with permanent affordable housing.
At least 25 percent of this new funding will go towards women-focused housing projects. All units will be constructed within 12 months of when funding is provided to applicants.
This investment will more than triple the initial target set under the Rapid Housing Initiative as the program will now help create over 9,200 affordable housing units across the country.
The RHI takes a human rights-based approach to housing, serving people experiencing or at risk of homelessness and others who are among the most vulnerable, including: women and children fleeing domestic violence, seniors, young adults, Indigenous peoples, people with disabilities, people dealing with mental health and addiction issues, veterans, LGBTQ2+, racialized groups, Black Canadians, and recent immigrants or refugees.
Canada's National Housing Strategy (NHS) is a 10-year, $70+ billion plan that will give more Canadians a place to call home—this includes more than $13 billion committed through the 2020 Fall Economic Statement.
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.
SOURCE Canada Mortgage and Housing Corporation
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