Canada supports affordable housing in Peel Region

Canadian Mortgage and Housing Corporation Logo (CNW Group/Canada Mortgage and Housing Corporation (CMHC))

Government of Canada Logo (CNW Group/Canada Mortgage and Housing Corporation (CMHC))

MISSISSAUGA, ON, Nov. 10, 2023 /CNW/ - The Government of Canada and the Regional Municipality of Peel announced funding to support the construction of 118 homes in Peel Region. The federal government is providing over $23.8 million in funding through the National Housing Co-Investment Fund (NHCF) and the third round of the Rapid Housing Initiative (RHI), while the Regional Municipality of Peel is providing $21 million.

The announcement took place at the Clarkson Standard Support project, located at 1639 Lakeshore West in Mississauga. The project was selected under the third round of the Rapid Housing Initiative Cities Stream and benefitted from $19.7 million in federal funding. This multi-residential community will create 50 new affordable apartments for some of Mississauga's most vulnerable who face housing insecurity due to various barriers to stable, independent living including women, BIPOC, and those who live with mental health, addiction, and/or physical and mental disabilities. It will also include tenant amenity spaces designed to support health, wellness, and belonging.  Walkable and transit oriented, the property is within proximity to high-frequency bus service, schools, parks, social services, and Clarkson BIA commercial corridor.

The second project announced today is the Lakeshore Lofts, located at 425 Lakeshore in Mississauga. This low-rise apartment building received $4.1 million in repayable loan from the National Housing Co-Investment Fund (NHCF) and $21 million in forgivable loan from the Regional Municipality of Peel. Lakeshore Lofts will offer 68 affordable units and a supportive housing model that will connect residents to health and wellness resources while creating a sense of belonging. The targeted population aims to serve people with physical disabilities, mental health challenges, substance abuse and addiction issues. The non-residential spaces in the building will be occupied by non-profit support and public-benefit agencies that align with the goals and objectives of the supportive housing programs.  The areas will provide food security programs, offices for the social services, and retail spaces for social enterprise organizations pursuing job and skills training activities for vulnerable and general populations. While living independently, tenants also have access to a free in-house 24-hour support line. 

Quotes:

"Through the National Housing Strategy's diverse programs, we are investing in affordable housing across the country. The 118 new homes announced today will greatly improve the quality of lives of their residents, while also having a positive impact on the wider community. This is our government's National Housing Strategy at work." – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"Everyone deserve a place to call home. That is why we are working with municipalities and local organizations to provide safe and affordable housing for our most vulnerable. Through the National Housing Strategy we are delivering results that address local needs, and build stronger communities here in Mississauga—Lakeshore, and across Canada." – Charles Sousa, Member of Parliament for Mississauga-Lakeshore

"Peel's affordable housing crisis is at an inflection point, and the only way we can tackle it is through meaningful partnerships. That's why I'm so encouraged by today's announcement. The Federal Government's continued investment in Peel residents and Indwell's commitment to its mission will ensure that more people can get and keep the affordable, stable housing they need and deserve." – Nando Iannicca, Regional Chair, Peel Region

"Today's groundbreaking is a significant milestone in our ongoing commitment to housing affordability in Mississauga. We are grateful to our federal partners for this investment and we are one step closer to building a future where every individual who aspires to live in Mississauga can afford to do so."  – Chris Fonseca, Acting Mayor, City of Mississauga

"This is an excellent project for the Federal Government's Rapid Housing Initiative. We are in a housing crisis, and every level of government is stepping up to provide more deeply affordable housing. Indwell has been a strong community partner in Mississauga, first in Port Credit, then Streetsville, and now in Clarkson. I look forward to continuing the process to build more affordable housing with our government partners." –  Alvin Tedjo, Councillor Ward 2

"As Councillor for Ward 1 in the City of Mississauga, I am pleased to welcome the funding for Indwell Lakeshore Lofts in my ward." – Stephen Dasko, Councillor Ward 1

We are so pleased to partner with the Region of Peel and CMHC to make more supportive affordable housing available to all residents and address our homelessness crisis. Indwell is grateful to receive this generous funding for our third site - in Clarkson Village.  We look forward to beginning construction soon so that together, we can continue to build more Hope and Homes here in Mississauga. – Jeff Neven, CEO, Indwell

Quick facts:

• Today's announcement was made by Charles Sousa, Member of Parliament for Mississauga– Lakeshore, alongside Nando Iannicca, Chair of Peel Region, Chris Fonseca, Acting Mayor of Mississauga, Alvin Tedjo, Ward 2 Councillor and Stephen Dasko, Ward 1 Councillor.
  
  
• The Government of Canada's National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest over $82 billion to give more Canadians a place to call home.
  
  
• The National Housing Co-Investment Fund (NHCF) is a program under the National Housing Strategy (NHS) that 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.
  
  
• The Clarkson Standard Support project, located at 1639 Lakeshore in Mississauga was 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.
  
  
• 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.
  
  
• Launched in 2020, the Rapid Housing Initiative (RHI) is delivered by the Canada Mortgage and Housing Corporation (CMHC), under the NHS.
  
  
• The third round of the Rapid Housing Initiative once again exceeded its initial target of creating at least 4,500 new affordable housing units for Canadians in severe housing need. It is expected that over 5,200 new units will be built across Canada.
  
  
• The total number of units created with the support of Rapid Housing Initiative is expected to be over 15,500 units.

Related links:

• Visit canada.ca/housing for the most requested Government of Canada housing information.
• 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.

SOURCE Canada Mortgage and Housing Corporation (CMHC)

on this news release: Micaal Ahmed, Office of the Minister of Housing, Infrastructure and Communities, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]