Canada Supports Rapid Housing Project in Toronto

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TORONTO, June 16, 2021 /CNW/ - Every Canadian deserves a safe and affordable place to call home. The COVID-19 crisis has made it clear that affordable housing is key to Canada's recovery for regions across the country, including right here in Toronto.

Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), alongside Marci Ien, Member of Parliament for Toronto Centre, John Tory, the Mayor of Toronto, Ana Bailão, the Deputy Mayor of Toronto, and Kristyn Wong-Tam, City Councillor for Toronto Centre, announced details of an approximately $1.2 million investment through the Major Cities Stream of the Rapid Housing Initiative (RHI) for the conversion of a vacant property into 24 affordable low-rise apartment homes.

These 24 homes will be part of innovative and cost-effective supportive housing build located at 292-296 Parliament St., for those who are exiting or at risk of homelessness. Supportive housing provides a rapid, dignified response to connect people experiencing and at risk of homelessness with homes and appropriate supports to help them achieve housing stability.

Delivered by CMHC, under the National Housing Strategy (NHS), RHI provides capital contributions to develop new, permanent affordable housing by covering costs associated with modular multi-unit rental construction; conversion of non-residential to affordable multi-residential homes; and, rehabilitation of buildings in disrepair and/or abandoned to affordable multi-residential homes. Investments made under the RHI are expected to support thousands of construction-related jobs for Canadians from coast to coast to coast.