CANADA ANNOUNCES FUNDING FOR NEW HOMES IN THE CITY OF YELLOWKNIFE

YELLOWKNIFE, NT, June 30, 2023 /CNW/ - Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, the Honourable Helena Jaczek, Minister of Public Services and Procurement, Michael McLeod, Member of Parliament for Northwest Territories, the Honourable Paulie Chinna, Minister Responsible for Housing Northwest Territories and Minister Responsible for Homelessness and Rebecca Alty, Mayor for the City of Yellowknife, announced $7.9 million in funding to create 36 permanent affordable homes in Yellowknife.

The project, Aspen Apartments, will convert former federal staff housing into new permanent affordable homes. These new homes will help house Indigenous people, women with children and those who are experiencing or at-risk of experiencing homelessness. Once completed, these new homes will be owned and operated by Housing NWT.  

This is made possible by the Government of Canada's additional investment of $1.5 billion through the Rapid Housing Initiative (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. 

Previously owned by Public Services and Procurement Canada (PSPC), the building is being transferred to the community through the Federal Lands Initiative (FLI). This program is providing $200 million over 10 years to support the transfer of surplus federal properties to eligible proponents at discounted to no cost, to promote the development of affordable, sustainable, and socially inclusive housing.

A breakdown of funding for this project includes:

• $5 million under the Cities Stream of the third round of RHI.
• $2.9 million under FLI in support of the transfer of the land to Housing NWT.

"Everyone deserves a safe and affordable place to call home. Thanks to this combined $7.9 million investment under our government's National Housing Strategy, we are quickly providing new affordable housing units for people who need them most  right here in Yellowknife. By working closely with our partners to create more affordable housing for those in core housing need, 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 

"My department is actively looking at how to best optimize its real property portfolio, including identifying buildings that can be repurposed as housing in support of the Federal Lands Initiative. We are pleased to work with our partners at Canada Mortgage and Housing Corporation on the Aspen Apartments project, which will benefit the community of Yellowknife for years to come."  ? The Honourable Helena Jaczek, Minister of Public Services and Procurement

"Homelessness is a reality for too many people in Yellowknife, 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 and Federal Lands Initiative will help our most vulnerable citizens, and will make a difference in the ongoing work to end homelessness and ensure housing affordability in Northwest Territories and across the country." ? Michael McLeod, Member of Parliament for Northwest Territories 

"This significant investment will help create permanent affordable homes in Yellowknife for those who need them most. Housing Northwest Territories and its partners have worked hard to increase our stock of quality, energy-efficient, and affordable housing units to help residents who are experiencing or at risk of experiencing homelessness. We remain committed to increasing our number of public housing assets and delivering sustainable housing solutions to those who need them most." ? The Honourable Paulie Chinna, Minister Responsible for Housing NWT and Minister Responsible for Homelessness.

"Through the Federal Government's Rapid Housing program, the City of Yellowknife was happy to apply our $5 million contribution to renovate Aspen Apartments, as it is re-purposed from federal staff housing to affordable housing for those in need. The City looks forward to seeing this project come to fruition." ? Rebecca Alty, Mayor of the City of Yellowknife 

• The Government of Canada's National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest more than $82+ billion to give more Canadians a place to call home.
• Launched in 2020, the Rapid Housing Initiative (RHI) is delivered by the Canada Mortgage and Housing Corporation (CMHC), under the NHS.
• The first two rounds of the RHI exceeded expectations and are expected to create more than 10,000 units instead of the 7,500 initially planned. This includes more than 3,300 units to support women and more than 4,200 units to support Indigenous Peoples.
• The RHI takes a human rights-based approach to housing, serving people experiencing or at risk of homelessness and other vulnerable people under the NHS, including women and children fleeing domestic violence, seniors, young adults, Indigenous Peoples, people with disabilities, people experiencing mental health and addiction issues, veterans, 2SLGBTQI+ individuals, racialized groups, and recent immigrants or refugees.
• The Federal Lands Initiative (FLI) is a $200 million 10-year program to support the transfer surplus federal lands to build affordable housing and is a partnership between Canada Mortgage and Housing Corporation (CMHC), Public Services and Procurement Canada (PSPC), the Canada Lands Company (CLC), and other federal partners with surplus lands.
• Public Services and Procurement Canada (PSPC) is the custodian of approximately 25% (6.9 million m²) of the Government of Canada (GC)'s real property assets based on floor area (for example Parliamentary Precinct, warehouses, marine structures, heating/cooling plants, office space). About 6.2 million m² is considered office buildings.

• To find out more, visit RHI3 and eligibility criteria.
• 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.
• To find out more about the National Housing Strategy, visit: www.placetocallhome.ca
• Check out the National Housing Strategy Housing Funding Initiatives Map to see affordable housing projects that have been developed across Canada.
• To find out how PSPC is optimizing its real property portfolio, visit here.

SOURCE Canada Mortgage and Housing Corporation