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

CANADA ANNOUNCES RAPID HOUSING FUNDING FOR EDMONTON


EDMONTON, AB, Feb. 24, 2023 /CNW/ - Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, the Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance and Member of Parliament for Edmonton Centre and Amarjeet Sohi, Mayor for the City of Edmonton announced $12.5 million in funding for Edmonton, 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 57 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 Edmonton. 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

"Homelessness is a reality for too many people in Edmonton, and we are working to ensure everyone in our community has a safe place to call home, while also creating jobs for the local economy. This investment through the Rapid Housing Initiative will help our most vulnerable citizens, and will make a difference in the ongoing work to end homelessness and ensure housing affordability in Alberta and across the country." ? The Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance and Member of Parliament for Edmonton Centre

"Access to affordable housing is necessary for a safe, inclusive and successful city. That's why the City of Edmonton, with support from programs like the Rapid Housing Initiative, has helped create more new affordable housing in the last four years than in the previous decade. The $12.5 million Edmonton receives this year will help build on that momentum as we re-establish affordable housing as critical public infrastructure. By closing the housing gap and offering the inclusive supports people need to stay housed, it is possible to meaningfully address housing insecurity. This is how we build an Edmonton for all of us."?  Amarjeet Sohi, Mayor for the City of Edmonton

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SOURCE Canada Mortgage and Housing Corporation


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