Government of Canada to create 30,000 affordable housing units through Innovation Fund

VANCOUVER, British Columbia, April 26, 2021 / CNW / – Every Canadian deserves a safe and affordable place to call home.

The 2021 budget is the government of From Canada plans to end the fight against COVID-19 and ensure a robust economic recovery that includes all Canadians.

Today, the Honorable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), as well as the Honorable Hedy Fry, MP for Vancouver- Center, have announced that as part of the investments made from Budget 2021: a recovery plan for jobs, growth and resilience, over the next seven years, from 2021-2022, $ 600 million will be invested in the renewal and expansion of the Affordable Housing Innovation Fund.

The COVID-19 recession is the strongest and fastest economic contraction since the Great Depression. It has disproportionately affected low-wage workers, youth, women and racialized Canadians. For businesses, this is a two-tiered recession, with some ways to prosper and grow, but many businesses – especially small businesses – are struggling to survive. Budget 2021 is a historic investment to address the specific wounds of the COVID-19 recession, put people first, create jobs, grow the middle class, put businesses on track for long-term growth and ensure that From Canada the future will be healthier, fairer, greener and more prosperous.

To date, this program has committed funds to support the creation of over 17,600 units, most of the units being affordable and for people with accessibility issues. Of these units, 2,000 were engaged with Canadians and their families Victoria, as well as over 5,000 in the Lower Mainland.

Today’s new funding will support the creation of up to 12,700 additional housing units, bringing the total across the country to more than 30,000 Canadians supported through the Innovation Fund for affordable housing.

Funded by the government of Canada and offered by the Canada Mortgage and Housing Corporation, this fund is an initiative of the National Housing Strategy and encourages new financing models and innovative construction techniques in the affordable housing sector.

The government of From Canada The top priority remains protecting the health and safety of Canadians, especially during this aggressive third wave of the virus and its variants. Vaccine deployment is underway in Canada, with the support of the federal government in every province and territory. The 2021 budget invests in From Canada the bio-manufacturing and life sciences sector to rebuild national vaccine manufacturing capacity, and has a plan to establish national standards for long-term care and mental health services.

Budget 2021 is a plan to connect Canadians and Canadian businesses during the crisis and towards a strong recovery. He proposes extending business and income supports until the fall and making investments to create jobs and help businesses across the economy recover. It will support nearly 500,000 new training and employment opportunities, including 215,000 for young people; supporting businesses in our most affected sectors such as tourism and the arts and culture; and accelerate investments and digital transformation in small and medium enterprises. The 2021 budget is a plan that puts Canada on track to deliver on its commitment to create 1 million jobs by the end of the year.

Canada entered the pandemic in a strong fiscal position. This has enabled the government to take swift and decisive action, to support people and businesses, and to put it in a position to make historic investments in the recovery.

Quote:

“Every Canadian deserves a safe and affordable place to call home. The Affordable Housing Innovation Fund has proven to be an effective way to deliver smart, innovative and thoughtful housing solutions. With renewed resources as part of Budget 2021, our government will continue to build partnerships with the private sector, developers, municipalities and the not-for-profit sector to push the boundaries and create affordable housing that meets the needs of Canadians living in Canada. coast to coast. ” – The Honorable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for the Canada Mortgage and Housing Corporation (CMHC)

“Our government believes that families should be able to live, grow and work in a neighborhood that meets their needs, and have the stability and opportunities that allow them to succeed.” Innovation is essential to achieve this. With today’s announcement, it is clear that our government will continue to support innovation and growth in our communities with the help of partners from all sectors. ” – The Honorable Hedy Fry, MP for Vancouver Center

Fast facts

  • The 2021 budget includes $ 101.4 billion over three years in the investments proposed under the government of From Canada growth plan that will create good jobs and support a resilient and inclusive recovery. The main measures include:
    • Help build, repair and support 35,000 affordable housing units for vulnerable Canadians through an investment of $ 2.5 billion and a reallocation of $ 1.3 billion in existing funding.
  • From Canada The National Housing Strategy (NHS) is a 10-year, over $ 70 billion plan that will give more Canadians a place to call home, which includes more than 13 billion dollars committed to the 2020 Fall Economic Statement.

Related links:

As From Canada As a housing authority, CMHC contributes to the stability of the housing market and the financial system, provides support to Canadians in need of housing, and provides unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s goal is that by 2030, everyone Canada has a home they can afford that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, Youtube, LinkedIn and Facebook.

To learn more about the National Housing Strategy, please visit www.placetocallhome.ca.

SOURCE Canada Mortgage and Housing Corporation

For further information: Mikaela Harrison, Press Secretary, Office of the Minister of Families, Children and Social Development, 819-654-5546, [email protected]; Leonard Catling, Media Relations, Canada Mortgage and Housing Corporation, [email protected]

Related links

www.cmhc-schl.gc.ca




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