Funding announced for 200 affordable homes in Scarborough

SCARBOROUGH, ON, Feb. 12, 2024 /CNW/ - Today, the federal government and the City of Toronto announced funding to support the construction of 201 affordable rental homes in Scarborough.

The announcement was made by the Honourable Gary Anandasangaree, Minister of Crown-Indigenous Relations and Member of Parliament for Scarborough? Rouge Park ? on behalf of the Honorable Sean Fraser, Minister of Housing, Infrastructure and Communities ? alongside Olivia Chow, Mayor of the City of Toronto and Jennifer McKelvie, Deputy Mayor of the City of Toronto.

Owned and operated by the Brenyon Way Charitable Foundation, the project located at 25 Sewells Road is a nine-storey building. It will have a mix of one and two-bedroom apartments and will prioritize providing homes for women and their children and people with physical disabilities. Twelve of the units will be fully accessible to persons with physical disabilities.

A breakdown of funding for this project includes:

• Over $15 million in funding and over $79 million in repayable loans from the federal government through the Affordable Housing Fund
• Over $ 3.37 million in capital funding from the City of Toronto
• $27 million in financial incentives through the City of Toronto's Open Door program

Construction of the project is expected to be completed by the Fall of 2026.

Quotes:

"An additional 201 affordable homes is a small but meaningful step in addressing local needs and building a stronger community here in Scarborough. I know these new units will be a relief to the families who move into them, and I am looking forward to the completion and positive impact of this incredible project." ? Gary Anandasangaree, Minister of Crown-Indigenous Relations, and Member of Parliament for Scarborough? Rouge Park, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"More affordable housing means stronger communities across Toronto. This affordable housing site at 25 Sewells Rd. is a success story of the collaboration between federal and municipal government and the not-for-profit sector. To address the housing crisis, we need more partnerships like this one, creating homes and a sense of belonging for all." ? Olivia Chow, Mayor of the City of Toronto

"I'm so happy to see the ground-breaking of this important affordable housing project in Scarborough. Our community has a real and immediate need for affordable homes and I'm proud that the City of Toronto is taking tangible steps to meet this need. I cannot wait to welcome our new neighbours when this building is complete." ? Deputy Mayor Jennifer McKelvie (Scarborough-Rouge Park)

"The City of Toronto currently delivers a wide range of policies, programs and initiatives to increase the supply of affordable housing, however, solving this housing crisis demands collective action from all orders of government. The federal and municipal support of the affordable housing project at 25 Sewells Rd. reflects a shared commitment to addressing this challenge and working towards making housing affordability a reality for Torontonians." ? Councillor Gord Perks  (Parkdale-High Park), Chair of the Planning and Housing Committee

''The Brenyon Way Charitable Foundation is pleased to start construction of a much needed affordable housing development with the support of our Federal and Municipal partners.  Our non-profit volunteer board is committed to providing quality, permanently affordable housing for the residents of Scarborough, as we have been providing for more than 40 years.'' ? Eric Cohen, President of the Board, Brenyon Way Charitable Foundation

Quick facts:

• The Affordable Housing Fund- previously known as the National Housing Co-Investment Fund (NHCF) is part of the Government of Canada's National Housing Strategy (NHS), an $82+ billion plan to give more Canadians a place to call home.
• As of September 30, 2023, the Government of Canada has committed over $38.89 billion to support the creation of over 151,803 units and the repair of over 241,133 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
• As of September 30, 2023, the Government of Canada has committed over $7.49 billion to support the creation of over 31,589 units and the repair of over 128,959 units through the Affordable Housing Fund.

Related links:

• Visit canada.ca/housing for the most requested Government of Canada housing information.
• 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 everyone in Canada has a home they can afford and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• Progress on programs and initiatives are updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.

SOURCE Canada Mortgage and Housing Corporation (CMHC)