CANADA ANNOUNCES HOUSING SUPPLY CHALLENGE'S ROUND TWO RECIPIENTS

OTTAWA, ON, Oct. 6, 2022 /CNW/ - Every Canadian deserves a safe and affordable place to call home. That is why the Government of Canada has created the 5-year, $300 million Housing Supply Challenge to further support housing supply solutions.

Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion announced the Round 2 recipients of the Housing Supply Challenge.

A total of 14 solutions for the round, "Getting Started" will be receiving Implementation funding to bring their pre-development processes ideas to life, sharing a pool of up to $38 million. The recipients are:

• Ratio.City Inc
• Cahdco
• Town of Stratford, PEI
• AECO Innovation Lab Inc
• Nishnawbe Aski Nation Corporate Services
• Simon Fraser University Morris J. Wosk Centre for Dialogue
• Small Housing BC
• Toronto Renewable Co-Operative (legally operating as ''Tapestry Community Capital'')
• Co:Here Foundation
• UTILE
• Victoria Native Friendship Centre
• City of Beaumont
• Coho NL Community Development Inc.
• CP Planning

The Housing Supply Challenges is comprised of multiple rounds during which, proposals addressing housing supply barriers as timelines, construction productivity and improving data on land availability are evaluated. The overall challenge will distribute a maximum total of $300 million in funding over 5 years.

The full description of these 14 proposed solutions, information regarding the future rounds as well the Round 3 shortlist will be available on the Canada Mortgage and Housing Corporation's website. 

Quotes:

"Every Canadian deserves a home that they can afford and that meets their needs. Increasing the supply of housing in Canada requires collaboration, knowledge sharing, and partnerships to support it. With this funding, we are investing in the most innovative methods for expanding the housing supply. The Housing Supply Challenge enhances community engagement and inspires others to scale or adapt ideas for national impact. This is our government's National Housing Strategy at work." – The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

Quick facts:

• The Government of Canada has provided $300 million in funding over five years to launch a Housing Supply Challenge (HSC) and unlock new solutions for Canadians searching for an affordable place to call home. 
• The HSC is being delivered by Canada Mortgage and Housing Corporation (CMHC) and aims to: 
  • provide new resources and find solutions to enhance housing supply and provide a platform to share these models with communities across Canada; 
  • help address barriers to housing supply and affordability, showcase new ideas and solutions, and cultivate collaboration and partnerships. 
• The HSC is a component of Impact Canada, a Government of Canada-wide initiative to help departments accelerate the adoption of innovative funding approaches to deliver meaningful results to Canadians. 
• The first round, "Data Driven", has selected 14 finalists who have proposed innovative solutions to address gaps in housing data. These participants will create technology or methodology-based solutions to improve data collection, sharing, analysis and integration, thus improving decision-making on housing supply. The first round will disburse up to $25 million to fund these solutions. 
• The third round, ''Northern Access'' has shortlisted the applicants who have proposed supply chain solutions that reduce the time, cost, and risk to access resources for building and maintaining appropriate northern and remote housing supply. Up to $80 million will be disbursed to fund these solutions.
• The fourth round "Building for the Future: Innovative Construction for Housing Affordability", will be launching in the Fall of 2022. It will call for innovative construction solutions that will make an impact on increasing housing supply that is affordable, climate compatible and meets people's needs. Building for the Future's aim will also be to stimulate collaboration, knowledge sharing, and partnerships to influence the construction of new builds or retrofits at the local, provincial/territorial, and federal level.
• The Challenge aligns with the National Housing Strategy and CMHC's goal that by 2030, everyone in Canada has a home they can afford and that meets their needs. 

Associated links:

• Find more information about the Housing Supply Challenge.

• 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, YouTube, LinkedIn, Instagram and Facebook.

• To find out more about the National Housing Strategy, visit www.placetocallhome.ca.

SOURCE Canada Mortgage and Housing Corporation

Arevig Afarian, Press Secretary, Office of the Minister for Housing and Diversity and Inclusion, [email protected]; Media Relations: Canada Mortgage and Housing Corporation, [email protected]