Le Lézard
Classified in: Business
Subjects: NTA, CFG, DEI

GOVERNMENT OF CANADA ANNOUNCES RAPID HOUSING INITIATIVE FUNDING FOR SASKATOON


SASKATOON, SK, Feb. 21, 2023 /CNW/ - Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion and Charlie Clark, Mayor of Saskatoon announced $6.7 million in funding for Saskatoon, one of the 41 recipients of the third round of the Rapid Housing Initiative's (RHI) city stream. This investment is set to help create at least 33 new units.

This is made possible by the Government of Canada's additional investment of $1.5 billion through RHI, bringing the program's total to $4 billion to support the country's most vulnerable. This investment is expected to create at least 4,500 more affordable housing units for Canadians in severe housing need across the country, with 25% of investments going towards women-focused housing projects.

RHI provides funding to facilitate the rapid construction of new housing and the acquisition of existing buildings for the purpose of rehabilitation or conversion to permanent affordable housing units. The additional funding for the third round of RHI will be divided into two streams: $1 billion through the Projects Stream and $500 million towards the Cities Stream

Quotes:

"Everyone deserves a safe and affordable place to call home. Through the Rapid Housing Initiative, we are quickly providing new affordable housing units for people who need them most, right across Canada, including right here in Saskatoon. By working closely with our partners to create more affordable housing that meets the needs of Canadians, our government is continuing to deliver meaningful results for Canadians. This is one of the many ways our National Housing Strategy continues to ensure no one is left behind." ?  The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"This important funding will help to build badly needed affordable housing units for some of the most vulnerable individuals and families in our community. We continue to see an increase in residents at risk or already experiencing homelessness in the community. I want to thank the CMHC for providing this funding and all contributing partners. This new funding follows the successful completion of two projects in the previous round of the Rapid Housing Initiative."
? Charlie Clark, Mayor of Saskatoon

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SOURCE Canada Mortgage and Housing Corporation


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