Federal government invests in over 1,800 affordable homes in Durham Region (2024)

OSHAWA, ON, Aug. 1, 2024 /CNW/ - Today, the federal government announced nearly $31 million in contributions and low-cost loans through the Affordable Housing Fund (AHF) to help build and repair 1,838 affordable homes in the Durham Region.

The announcement was made by the Honourable Ya'ara Saks, Minister of Mental Health and Addictions – on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities – alongside the Honourable Rechie Valdez, Minister of Small Business, Ryan Turnbull Member of Parliament for Whitby, Jennifer O'Connell, Member of Parliament for Pickering—Uxbridge and Michael Coteau, Member of Parliament for Don Valley East.

The announcement took place at Conant Place at 1050 Simcoe Street South in Oshawa, which received more that $14.5 million to build 54 homes for seniors. The building will be operated by the Durham Region Non-Profit Housing Corporation and is conveniently located near grocery stores, transit, and medical offices.

A detailed list of 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 safety and stability that comes with having a home has a direct impact on physical and mental health. The investment announced today will help ensure Canadians of any age can find affordable housing for themselves and their families. This one investment made today can have a generational impact on the health of both families and communities in Oshawa." –The Honourable Ya'ara Saks, Minister of Mental Health and Addictions and Associate Minister of Health

"Having a place to call home is a fundamental right for everyone. Through our government's Affordable Housing Fund, we are making this goal a reality for more individuals and families who call the Durham region home. Our ongoing investments in affordable housing initiatives and partnerships across the country are critical steps toward overcoming the housing crisis and creating a bright future for all Canadians, no matter who you are or where you are from." – The Honourable Rechie Valdez, Minister of Small Business

Quick facts:

• The federal funding announced today is helping create a total of 64 new homes and is leading to the repairs of 1,774 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.

• To support the Government's work to grow housing supply and address the need for more affordable and rental homes, CMHC is implementing the Frequent Builder framework.

• The Frequent Builder framework will help expedite applications for the Affordable Housing Fund and the Apartment Construction Loan Program. The Frequent Builder status is given to existing housing providers with a proven track record of building multi-residential units. Different criteria apply to Governments, non-profit and for-profit organizations to qualify for Frequent Builder status.

• Frequent Builders may receive benefits such as priority treatment, a streamlined process through intake, underwriting and approval stages, underwriting and advancing flexibilities, as well as the possibility of funding commitments for future years which will allow funding predictability and better planning for their pipeline of projects.

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

SOURCE Government of Canada

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