Canada Supports Rapid Housing Projects in Toronto

TORONTO, April 15, 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 as regions across the country, including those in Toronto, are dealing with the devastating impacts of rising levels of homelessness and housing need.

Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), and John Tory, Mayor of Toronto, announced details of an approximately $143 million investment through the Major Cities Stream of the Rapid Housing Initiative (RHI) for the immediate purchase and renovation of approximately 334 units of affordable housing in Toronto.

The new homes are part of two separate projects: 222 Spadina Avenue and 877 Yonge Street which will provide, respectively, 84 and 250 homes with support services for seniors, Indigenous peoples, women and individuals who are experiencing homelessness or at-risk of experiencing homelessness.

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.

Quotes:

"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. Our Government's plan under the National Housing Strategy continues to provide affordable housing for those who need it most from coast to coast to coast." ? The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation

"Our Government is working hard to ensure that every Canadian has a safe and affordable place to call home. Investments with municipalities under the Rapid Housing Initiative will go a long way to effectively support those who need it most by quickly providing new affordable homes to vulnerable individuals and families to keep them safe." ? Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development

"I want to thank the Government of Canada for coming forward with this investment which will help us continue to meet our housing goals.  We have remained committed to increasing the number of affordable housing options in Toronto and ensuring that we are providing support to those who need it the most. The housing we are announcing today will create a more well-rounded, full-service support system for vulnerable residents in our city. Supportive housing has proven to work and is the type of housing we need to create for people in need of a stable, long-term and welcoming place to call home." ? John Tory, Mayor of Toronto

"These buildings demonstrate all that we can achieve when we work together.  With all levels of government, health and housing partners and the community involved we can deliver the housing we need. As well as providing a safe, stable home for marginalized residents and communities, we are also providing easy access to a range of supports, on site." ? Deputy Mayor Ana Bailão, (Davenport), Planning and Housing Committee Chair

"Bringing together much needed housing with critical supports on site will go a long way to improving the quality of life of some of Toronto's most vulnerable residents. I'm pleased that we're able to open the doors of these new homes and welcome our new neighbours to our community."? Councillor Mike Layton (University-Rosedale)

"To truly tackle the affordable housing crisis in our city, we must take bold steps ? like acquiring a private hotel in our downtown core and turning it into affordable housing units with fully-integrated supports. The City of Toronto, in partnership with the Federal Government, is taking action to create supportive housing that meets people's needs and provides safe and secure homes that people can afford. This is how we invest in our residents, our community, and our city."? Councillor Joe Cressy (Spadina-Fort York), Chair of the Board of Health

Quick facts:

• 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. 
• Nationally, at over 4,700 permanent affordable housing units, the RHI has exceeded its initial target of 3000.
• The RHI has received significant interest from Indigenous groups, which resulted in nearly 40% of all units created under the program to be targeted to Indigenous peoples.
• 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.

Associated links:

• Coronavirus disease (COVID-19)
• Canada's COVID-19 Economic Response Plan
• Rapid Housing Initiative 
• National Housing Strategy

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