Prime Minister Justin Trudeau and Hamilton’s Mayor Andrea Horwath announced a joint investment of nearly $64 million to build and repair 214 homes for families in the city.
The federal government will provide close to $45 million for these four projects, which will also be supported by a contribution of $19.1 million from the City of Hamilton. Ottawa’s funding will be provided through National Housing Strategy (NHS) programs, including the Rental Construction Financing Initiative and the Rapid Housing Initiative.
“All across the country, I hear from Canadians that the cost of housing is a top concern – and that’s why we are rapidly investing to build more homes,” Trudeau stated. “Today’s (July 31) investment to build and repair hundreds of homes in Hamilton will make housing more affordable, create good jobs for the middle class, and grow the economy.”
The four housing projects announced in Hamilton will be located at 90 Carling Street, 104-106 Bay Street, 32 Clapham Road and 219 East Avenue North. Some of this housing will build and repair specific rental units and will support seniors, women and children fleeing domestic violence, people experiencing mental health or addiction issues, and Indigenous Peoples.
“It’s so important to me that people of all ages and income levels can afford to call Hamilton home,” Mayor Horwath said. “This joint investment by the City of Hamilton and the Government of Canada will change the lives of hundreds of people and demonstrates the important and ongoing partnership that is required to support Hamilton residents as life continues to get more expensive.”
The NHS is an ambitious, 10-year plan that will invest over $82 billion in housing.
The Rental Construction Financing Initiative (RCFi) provides fully repayable low-interest loans to encourage the construction of more purpose-built rental housing for middle-income Canadians. The RCFi complements other NHS initiatives that focus on funding affordable housing units for lower-income households.
The Rapid Housing Initiative (RHI) is delivered through the Canada Mortgage and Housing Corporation (CMHC), under the NHS. It provides funding to facilitate the rapid construction of new housing and the acquisition of existing buildings for the purpose of rehabilitation or conversion to permanent affordable housing units. With its third phase, launched in 2022, the Rapid Housing Initiative once again exceeded targets. It is expected that over 5,200 new homes will be created, of which almost half will be for women and one third will be for Indigenous Peoples. The total number of units created with all three phases of the RHI is now over 15,500 across Canada.
The RHI takes a human rights-based approach to housing, serving people experiencing or at risk of homelessness and other vulnerable people, including women and children fleeing domestic violence, seniors, young adults, Indigenous Peoples, people with disabilities, people experiencing mental health and addiction issues, veterans, 2SLGBTQI+ individuals, racialized groups, and recent immigrants or refugees.
