Federal government invests in over 8,600 affordable homes in Hamilton, Halton and Niagara
HAMILTON, ON, July 23, 2024 /CNW/ - Today, the federal government announced more than $97 million in contributions and low-cost loans through the Affordable Housing Fund (AHF) to help build and repair 8,669 affordable homes in Hamilton, Halton and Niagara regions.
The announcement was made by the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, alongside Chad Collins, Member of Parliament for Hamilton East-Stoney Creek, and Lisa Hepfner, Member of Parliament for Hamilton Mountain and Parliamentary Secretary to the Minister for Women and Gender Equality.
It took place at 106 Bay Street North, which received over $5 million to build 55 new homes. The building, operated by CityHousing Hamilton, will consist of both single and family units mainly dedicated for women and their children. Construction of the project is underway and is expected to be completed by the end of 2024.
A detailed list of all the projects that received funding is provided in an appendix to this release.
Quotes:
"Everyone deserves a place to call their own and the Affordable Housing Fund is one way we're helping make that a reality for Canadians. We will keep investing in affordable housing projects like the ones announced today, and working with partners across the country, to end the housing crisis." – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
"The federal government is dedicated to supporting people with their housing needs and make life easier for Canadians. Through the Affordable Housing Fund, our government is investing in affordable housing here in Hamilton, in Halton, in Niagara region and across Canada. Today's announcement is yet another example of how we are creating real solutions for the affordable housing Canadians deserve. This is the National Housing Strategy at work."
– The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Hamilton West—Ancaster—Dundas
Quick facts:
- The federal funding announced today is helping create a total of 270 new homes and is leading to the repairs of 8,399 homes.
- The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to help build new affordable homes and renovate and repair existing, affordable and community housing.
- Through the 2023 Fall Economic Statement, the government announced an additional $1 billion for the Affordable Housing Fund, bringing the total funding to over $14 billion. To further support non-profit, co-operative, and public housing providers and respond to the needs of those most impacted by the housing crisis, Budget 2024 committed an additional $1 billion to the fund.
- This program under the National Housing Strategy (NHS) gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous peoples, people living with disabilities, those with mental health or addiction issues, veterans, and young adults.
- As of March 2024, the federal government has committed $50.97 billion through the NHS to support the creation of over 146,000 units and the repair of over 286,000 units.
Additional Information:
- Visit Canada.ca/housing for the most requested Government of Canada housing information.
- CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
- To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.
Appendix: Projects receiving funding under AHF
Project Name | Region/City | Funding ($) | Units |
Twenty Valley Terrace | Lincoln | 24,002,791 | 59 |
Victoria Park Community | Hamilton and region | 20,000,000 | 2000 |
Shelter | Thorold | 16,400,000 | 2983 |
Shelter | Hamilton | 8,417,377 | 60 |
Halton Region Repairs | Halton | 7,000,000 | 2210 |
Hamilton East Kiwanis | Hamilton | 6,500,000 | 650 |
106 Bay Street North | Hamilton | 5,025,000 | 55 |
110 Stoneybrook Drive | Hamilton | 2,293,718 | 60 |
Shelter | Niagara Falls | 1,892,000 | 20 |
16 Steven Street | Hamilton | 1,700,000 | 17 |
154 Bronte Street | Milton | 900,000 | 0 |
Battlefield Apartments | Niagara Falls | 841,908 | 30 |
New CAP Shelter | Hamilton | 795,829 | 25 |
2222 Lakeshore Repairs | Oakville | 658,667 | 339 |
35 Oakdale Avenue | St. Catharines | 581,436 | 4 |
Shelter | Milton | 492,900 | 22 |
Elevators repairs for 1160 Dorval | Oakville | 195,092 | 135 |
Total | 97,696,718 | 8,669 | |
SOURCE Canada Mortgage and Housing Corporation (CMHC)
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