Federal government launches multi-billion dollar National Housing Co-Investment Fund
Northumberland—Peterborough South, ON – Thousands of vulnerable Canadians can look forward to a brighter future with access to safe and affordable housing that meets their needs. The National Housing Co-Investment Fund (NHCF), under Canada’s National Housing Strategy (NHS), will strengthen the middle class, fuel our economy and give more Canadians across the country a place to call home.
Through the NHCF, the Government of Canada will work with partners to create 60,000 new affordable units and repair 240,000 affordable and community units over the next ten years. Investments will also support the creation or repair of at least 4,000 shelter spaces for survivors of family violence, the creation of at least 7,000 new affordable units for seniors and 2,400 new affordable units for people with developmental disabilities.
Kim Rudd, Member of Parliament for Northumberland—Peterborough South and Parliamentary Secretary to the Minister of Natural Resources, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, highlighted the launch of the NHCF, a cornerstone initiative of the federal government’s historic NHS. With this $13.2 billion Fund, the federal government will have an active, sustained role in housing and drawn upon up to $4.52 billion in contributions and $8.65 billion in low interest loans to ensure existing rental housing is well maintained and modernized for better energy efficiency and accessibility standards. It will support the development of new high-performing affordable housing across the country that is built to last and supports a human rights-based approach to housing
The NHCF will be delivered in tandem with the recently created $3.75 billion Rental Construction Financing initiative and the $208.3 million Affordable Housing Innovation Fund. Combined, these three initiatives represent an investment of over $17.15 billion. This includes investments under Investing in Canada Plan.
The collaboration and commitment of partners, including municipalities, is more important than ever before to attain the NHS goal of creating a new generation of housing in Canada and help families in need. Investments under the NHCF will support projects that attract additional funding from other levels of government, not-for-profit and co-operative housing providers, and the private sector.
The NHCF will improve accessibility for people with disabilities, increase affordability and contribute to energy efficiency by prioritizing projects that exceed mandatory requirements.
To apply, please visit http://www.cmhc-schl.gc.ca/…/guidepage-strategy/how-to-apply