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Classified in: Business, Covid-19 virus

Canada Supports Rapid Housing Projects in Region of Waterloo


WATERLOO, ON, Aug. 3, 2021 /CNW/ - Every Canadian deserves a safe and affordable place to call home. However, the COVID-19 pandemic has increased the need for affordable housing and led to rising levels of homelessness. The Government of Canada created a national strategy to build hundreds of thousands of units and provide affordable housing to people across the country. By continuing to make investments in affordable housing, the government is building stronger communities, creating jobs, and growing our middle class, while fighting homelessness and helping vulnerable Canadians.

Adam Vaughan, Parliamentary Secretary to the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, alongside the Honourable Bardish Chagger, Minister of Diversity and Inclusion and Youth and Member of Parliament for Waterloo, Raj Saini, Member of Parliament for Kitchener Centre, and Karen Redman, Chair of the Region of Waterloo, today announced $11.2 million to create an estimated 42 new affordable homes for individuals and families in the Region of Waterloo through the Cities Stream under expanded Rapid Housing Initiative (RHI). These housing units will support Canadians who are in uncertain housing situations, experiencing or at risk of homelessness, or living in temporary shelters because of the pandemic.

This is in addition to the Government of Canada's previous investment of $8.2 million through the first phase of the Rapid Housing Initiative to support the creation of 42 housing units in the Region of Waterloo.

In its initial round, with funding of $1 billion announced in October 2020, the RHI exceeded its original target of 3,000 permanent affordable housing units and achieved 4,700 units nationally. Due to this success, an additional $1.5 billion for the Rapid Housing Initiative (RHI) was recently announced to create 4,500 new units of permanent affordable housing across the country. Thanks to this expansion, this initiative will now create over 9,200 affordable homes for the most vulnerable Canadians across the country.

This new investment 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:
"Every Canadian deserves a safe and affordable place to call home. Today's funding through the Rapid Housing Initiative will go a long way to support those who need it most by quickly providing more than 40 new affordable homes for vulnerable individuals and families in the Region of Waterloo to keep them safe. This is one of the ways our National Housing Strategy continues to ensure no one is left behind." ? The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation

"The ongoing pandemic reminds us that nothing is more important than a home. Hard working middle-class families in Waterloo Region deserve a safe and affordable place to call their own, where they can thrive and spend more time with their loved ones. This investment will quickly add new affordable homes to the region's housing stock, that is not just affordable, but also accessible, energy efficient and of good quality." ? The Honourable Bardish Chagger, Minister of Diversity and Inclusion and Youth and Member of Parliament for Waterloo

"We have seen how COVID-19 has worsened existing housing and homelessness challenges and without urgent action by the Government of Canada, the pandemic could lead to a dramatic increase in homelessness. Creating housing rapidly to address this housing crisis is a priority for our Government. This new funding is part of our commitment to addressing severe housing needs across the country. It will provide immediate support to create safe and stable housing to thousands of vulnerable individuals and families." ? Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children, and Social Development

"Everyone deserves a roof over their head and a safe place to call their own. All together through the Rapid Housing Initiative, the Government of Canada is funding an estimated 84 affordable homes in the Region of Waterloo, which will have a huge impact on our most vulnerable citizens who are experiencing homelessness or are at risk of becoming homeless. These new homes are just another step by our government to end chronic homelessness in the Region of Waterloo, and across Canada."  ? Raj Saini, Member of Parliament for Kitchener Centre

"The Region of Waterloo continues to work collaboratively with area municipalities, housing providers and the development community to create new affordable housing. As part of our new affordable housing plan, Building Better Futures: 2,500 Homes in 5 Years, we are committed to help those who need it find and maintain housing. Through this funding provided by the Government of Canada, we will see 42 new affordable homes created in the Region." ? Karen Redman, Regional Chair, Region of Waterloo

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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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