TORONTO, Nov. 6, 2023 /CNW/ - A safe and affordable place to call home is the foundation for building a life that people want and deserve. Having a reliable roof to live under brings stability and security, and it's an important part of creating a better future for all Canadians. Today, the Government of Canada and the City of Toronto announced funding for two projects to help create 43 affordable homes in Toronto.
The federal government is providing over $16 million in funding through the third round of the Rapid Housing Initiative (RHI), and the city of Toronto is providing over $7.8 million to support delivery of these projects.
The announcement took place at 292 – 296 Parliament Street, a three-storey building providing 24 affordable units with 24/7 supports. This supportive housing project provides a rapid, dignified response to connect people experiencing or at risk of homelessness, including families and seniors, with homes and appropriate supports they need to achieve housing stability. The Government of Canada announced in 2021 a $1.2 million investment for this project through the Rapid Housing Initiative (RHI).
The first project announced today is located at 393 Dundas Street East, where a 12-unit apartment building will be built by St. Jude Community Homes for people experiencing homelessness who need access to deeply affordable homes, as well as mental health and addictions supports in downtown Toronto . Three units will be accessible, which is more than 10% higher than the Toronto accessibility standard. Completion of this project is expected by Fall 2024.
The second project announced today is 7 Vanauley Street (YMCA), a 6-storey building that will provide 31 new transitional units in downtown Toronto for 2SLGBTQ+ homeless youth, an extremely vulnerable population in Toronto. The project will exceed the local accessibility standards by 150% and exceed energy efficiency standards by over 25%. Completion of this project is expected by Spring 2024.
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 also 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 homes for people who need them most, right across Canada, including right here in Toronto. We are working closely with our partners to create more affordable housing that meets the needs of Canadians right across the country." – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
"As we invest in building more affordable housing, we cannot forget about those most vulnerable in our society. This is why, through the Rapid Housing Initiative, we are making investments to ensure that Canadians, here in Toronto and across the country, have access to safe and affordable housing that meets their needs. This means working with partners like the City of Toronto to make sure that people battling addiction, 2SLGBTQI+ individuals, Black and racialized people, people with disabilities and women and children fleeing gender-based violence have a safe place to call home. While today's announcement marks an important step forward, we know there is more work ahead to solve this issue." – The Honourable Marci Ien, Minister for Women and Gender Equality and Youth and Member of Parliament for Toronto Centre
"The City of Toronto is dedicated to improving housing affordability and building more supportive homes. We're working with all orders of government and not-for-profit partners to get more housing built faster. Projects like 7 Vanauley St. and 393 Dundas St. E. demonstrate how we can partner to quickly build stable, supportive housing for people who need it. Our ambitious housing plan aims to build thousands of affordable homes by working with non-profits. We're ready to build even more." – Olivia Chow, Mayor of Toronto
Quick facts:
- The announcement was made today by the Honourable Marci Ien, Minister for Women and Gender Equality and Youth and Member of Parliament for Toronto Centre, on behalf of the Honorable Sean Fraser, Minister of Housing, Infrastructure and Communities, alongside Olivia Chow, Mayor of the City of Toronto.
- 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.
- The funding announcement for the 292 – 296 Parliament Street was made on June 16, 2021 and the Grand opening event was on July 2022.
- Launched in 2020, the Rapid Housing Initiative (RHI) focuses on immediate housing needs and is delivered by the Canada Mortgage and Housing Corporation (CMHC), under the NHS.
- The Government of Canada's additional investment of $1.5 billion through Rapid Housing Initiative brought the program's total to $4 billion to support the housing needs of the country's most vulnerable.
- 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.
- 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.
Related links:
- Visit Canada.ca/housing for the most requested Government of Canada housing information.
- 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.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Micaal Ahmed, Office of the Minister of Housing, Infrastructure and Communities, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]
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