OTTAWA, ON, July 25, 2024 /CNW/ - Today, the federal government announced more than $41 million in contributions and low-cost loans through the Affordable Housing Fund (AHF) to help build and repair 3,304 affordable homes in Ottawa and Eastern Ontario.

The announcement was made by the Honourable Jenna Sudds, Minister of Families, Children and Social Development and Member of Parliament for Kanata—Carleton, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, alongside, the Honourable Mona Fortier, Member of Parliament for Ottawa—Vanier, Yasir Naqvi, Member of Parliament for Ottawa Centre, and Sarah Button Executive Director, Centretown Citizens Ottawa Corporation.

The announcement took place at 464 Metcalfe Street, which is operated by Centretown Citizens Ottawa Corporation. The site is near transit, schools, museums and restaurants. Amenities include laundry, on-site parking, shared outdoor space, an elevator, and bike parking. Centretown Citizens Ottawa Corporation received funding towards repairs for 1,200 units across Ottawa.

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

"We know Canadians are looking to us to take action to solve the housing crisis. The investments we're announcing today will have real, tangible impacts here in our community and across Eastern Ontario, and help more Canadians find a safe and affordable place to call home." – The Honourable Jenna Sudds, Minister of Families, Children and Social Development

Quick facts:

• The federal funding announced today is helping create a total of 86 new homes and is leading to the repairs of 3,218 homes.
• The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This is a $13.2 billion program under the National Housing Strategy (NHS) that 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 to support the creation of over 146,000 units and the repair of over 286,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
• To support the Government's work to grow housing supply and address the need for more affordable and rental homes, CMHC is implementing the Frequent Builder framework.
• The Frequent Builder framework will help expedite applications for the Affordable Housing Fund and the Apartment Construction Loan Program. The Frequent Builder status is given to existing housing providers with a proven track record of building multi-residential units. Different criteria apply to Governments, non-profit and for-profit organizations to qualify for Frequent Builder status.
• Frequent Builders may receive benefits such as priority treatment, a streamlined process through intake, underwriting and approval stages, underwriting and advancing flexibilities, as well as the possibility of funding commitments for future years which will allow funding predictability and better planning for their pipeline of projects.

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 Government of Canada