MONTRÉAL, July 23, 2024 /CNW/ - Today, the federal government announced more than $59 million in contributions and low-cost loans through the Affordable Housing Fund (AHF) to help build and repair 1,952 affordable homes in the Montréal metropolitan area and in many Indigenous communities across Québec.

The Honorable Marie-Claude Bibeau, Minister of National Revenue, made the announcement on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities at Place Griffintown, located at 1375 Barré Street in Montréal which received $5.1 million to build 54 new homes. The project was made possible by Bâtir son quartier, and will be operated by Société d'amélioration de Pointe-Saint-Charles (SOCAM) and Place Griffintown. The building will feature a new approach to building resilient housing adapted to climate change. The site is located near downtown Montréal.

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 Government of Canada is pleased to have supported this important funding here in the Greater Montréal and Indigenous communities across Québec. Through the Affordable Housing Fund we are committed to making communities stronger in our province and across Canada. I am proud that this investment of over $59 million will not only help create new jobs and stimulate the local economy, but also help to provide over 1,900 more secure and affordable homes for communities throughout Québec."– The Honorable, Marie-Claude Bibeau, Minister of National Revenue

"Whether for new construction, renovations or energy efficiency upgrades, the diversity of initiatives presented this morning speaks volumes about the ability of the housing sector's ability to meet the housing needs of low- and middle-income households, as well as vulnerable populations. To achieve this, the synergy of public intervention at all levels of government is essential. Today, we would like to recognize the contribution of the federal government and the various initiatives developed as part of the National Housing Strategy. Without these initiatives, these projects would not have been possible to significantly improve the quality of life of Montreal tenants." – Yann Omer-Kassin, development coordinator, Bâtir son quartier

Quick facts:

• The federal funding announced today is helping create a total of 672 new homes and is leading to the repairs of 1,280 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.

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 Canada Mortgage and Housing Corporation (CMHC)