TORONTO, Sept. 14, 2018 /CNW/ - The Government of Canada is committed to ensuring that all Canadians have a safe and affordable place to call home. Building on the positive steps taken in Budget 2016, last fall the Government of Canada announced Canada's first ever National Housing Strategy (NHS).
The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) and Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development, today announced that the federal government has invested more than $1.72 billion in funding and subsidies on affordable housing projects in Ontario since 2016.
Since 2016, the Government of Canada's investments in housing have benefitted more than 300,000 families in Ontario. We have also been working with many partners, including the province of Ontario, municipalities, First Nations, the community housing, non-profit and co-operative sectors, as well as the private sector to make a meaningful difference in the lives of Canadians.
Building on these investments, the NHS, launched in November 2017, has provided long-term funding that will strengthen the middle class, fuel our economy and give more Canadians across the country a safe and adequate place to call home. This is the largest and most ambitious federal housing program in Canadian history.
"The Government of Canada is committed to making housing more affordable for hard-working middle class families. These investments over the past two years helped meet the housing needs of over 300,000 thousand families in Ontario. The long-term and stable investments through the National Housing Strategy will continue helping Canadian families in the years to come." – The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation
"Our Government is dedicated to helping the residents of Ontario access safe and affordable housing that meets their needs. These investments make a real difference in the lives of many families and individuals across the province, a place they can proudly call home." – Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development
- The NHS is an ambitious 10-year, $40-billion+ plan that will reduce or eliminate housing need for 530,000 Canadian families across Canada, create 100,000 new housing units, as well as repair and renew more than 300,000 housing units and reduce chronic homelessness by 50 per cent.
- The governments of Canada and Ontario announced a $4.2 billion, 10-year agreement to protect, renew and expand social and community housing, and support Ontario's priorities related to housing repair, construction, and affordability.
- From 2018 to 2028, more than $2.4 billion in federal funding will be provided for social housing under the Social Housing Agreement (SHA) with Ontario. From 2018/19 to 2027/28, combined investments under this NHS bilateral agreement and the SHA with Ontario will preserve more than 130,000 units of community housing.
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. For more information, please visit cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.
To find out more about the National Housing Strategy, visit www.placetocallhome.ca.
SOURCE Canada Mortgage and Housing Corporation
For further information: Media contacts: Valérie Glazer, Press Secretary, Office of the Minister of Families, Children and Social Development, 613-220-1841, [email protected]; Wilbur McLean, CMHC, 437-333-3299, [email protected]