CANADA INVESTS OVER $180M TO BUILD NEARLY 500 HOMES IN HAMILTON

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CMHC Logo (CNW Group/Canada Mortgage and Housing Corporation)

HAMILTON, ON, May 24, 2023 /CNW/ - Today, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Hamilton West-Ancaster-Dundas, on behalf of the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, alongside Chad Collins, Member of Parliament for Hamilton East-Stoney Creek, Lisa Hepfner, Member of Parliament for Hamilton Mountain, and Tammy Hwang, Ward 4 Councillor for Hamilton, on behalf of Andrea Horwath, Mayor of Hamilton announced a combined investment of over $181.1 million to construct 497 homes in Hamilton.

The federal government is providing more than $133 million through the National Housing Strategy's diverse programs: the National Housing Co-Investment Fund (NHCF), Rapid Housing Initiative (RHI) and the Rental Construction Financing initiative (RCFi) for three projects.

The announcement took place at 8 Roxanne, a mixed income apartment building with 103 affordable units, 12 units of which will be accessible. This project received $7.1 million in federal funding through the National Housing Co-Investment Fund (NHCF), a $15 million loan from the City of Hamilton and $6.7 million from CityHousing Hamilton. The building, which was completed in December 2022, is also targeting 40% and 44% reduction in energy and greenhouse gas emission respectively.

Located at 16 & 22 Roxanne, The Roxton project will offer 352 purpose-built units, 76 of which will be accessible, with below market rents for women and their children. This project will transform 13 acres in the city's east end into a master-planned community modelled on adaptability, inclusivity, and diversity.  The project received a $115 million repayable low-interest loan through the Rental Construction Financing initiative (RCFi), a federal initiative aimed at stimulating the supply of purpose-built rental housing units across Canada. The project, which is expected to be completed by June 2024, also received $8.3 million from the City of Hamilton, $7 million in cash equity from Roxboro flats, and $10.6 million in land equity from Roxborough Park Inc.

Located at 1620 Main Street, this 42-unit project will offer much needed housing units in Hamilton for women and their children. This project has received a $10.8 million in federal funding through the Major Cities Stream under the third round of the Rapid Housing Initiative (RHI).

Quotes:

"Every Canadian deserves a safe and affordable place to call home. Today, we are delighted to announce the construction of almost 500 homes in Hamilton to support the needs of individuals and families in Hamilton. These new homes are more than bricks and mortar, they're the foundation for creating strong, vibrant communities where families in Hamilton can thrive. This is one of the many ways the Government of Canada's National Housing Strategy is ensuring that no one is left behind."   – The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"Having access to safe, and supportive homes will help bring positive change to our communities. In collaboration with our municipal partners and local stakeholders, we are working to ensure that all people in Hamilton and in communities across our province and across Canada, have safe and affordable housing." – The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Hamilton West-Ancaster-Dundas

"This investment is improving affordable and supportive housing in our region and is facilitating real change for our priority groups that need it most. We will continue to work hard to tackle Ontario's housing supply crisis and ensure all Ontarians can find a home that meets their needs and budgets." – Chad Collins Member of Parliament for Hamilton East-Stoney Creek

"Today's announcement continues the Government of Canada's record of helping Ontarians find the safe and supportive housing they need. I look forward to seeing these projects completed and know they will make a real and positive impact in the lives of Ontarians." – Lisa Hepfner, Member of Parliament for Hamilton Mountain

"This development is a testament to what can be accomplished when orders of government work alongside key private and community partners to respond to the specific needs of a neighbourhood. The project will help revitalize our east end community and add much-needed affordable housing options for individuals in our city." – Andrea Horwath, Mayor, City of Hamilton

"Roxborough Park embodies Hamilton's vision for an innovative, diverse and vibrant housing community. This is a fantastic example of public-private housing development done well. In this housing crisis, we are transforming 12.5 acres in our east end neighbourhood into high density market and affordable housing. Thanks to the funding from the federal government, for the support from our multi-sectoral partners, and the leadership of my predecessor, former Councillor Sam Merulla in making this a reality." – Tammy Hwang, Ward 4 Councillor, City of Hamilton

"This is a great achievement for CityHousing Hamilton and a place where tenants can be proud to live and call home. It is an excellent example of how multi-sectoral partners can work together to build high quality, impactful and sustainable homes for diverse and multi-generational households within mixed income neighbourhoods." - Nrinder Nann, President, CityHousing Hamilton Board and Ward 3 Councillor for Hamilton

"This is a great achievement for CityHousing Hamilton and a place where tenants can be proud to live and call home. It is an excellent example of how multi-sectoral partners can work together to build high quality, impactful and sustainable homes for diverse and multi-generational households within mixed income neighbourhoods." - Adam Sweedland, CEO, CityHousing Hamilton

"Roxborough Park Inc., a partnership comprised from the hard work of David Horwood of Effort Real Estate Corporation, Sergio Manchia of UrbanCore Developments and Nick Carnicelli of Carriage Gate Homes and Legacy Constructors, would like to thank various levels of government for their support of this revitalization project in the east end of Hamilton. The Roxborough community has been an exemplar collaboration effort amongst the City of Hamilton, the province of Ontario and the federal government. Special thank you to CMHC and CMLS for their support as without the provisions of the RCFi program, The Roxton would not have been viable in today's challenging environment. The Roxton, two rental apartment buildings at 16 & 22 Roxanne, will bring 352 much-needed rental apartment units to Hamilton." - David Horwood, Effort Real Estate Corporation

Quick facts:

• The Government of Canada's National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest over $82+ billion to give more Canadians a place to call home.
• The National Housing Co-Investment Fund (NHCF) 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 with disabilities, those with mental health or addiction issues, veterans, and young adults. Budget 2022 proposes to advance $2.9 billion in funding under the NHCF to accelerate the creation of up to 4,300 new units and the repair of up to 17,800 units.
• The Rental Construction Financing initiative (RCFi) provides repayable low-interest loans to encourage the construction of purpose-built rental housing and increase supply. The initiative focuses on standard rental apartment developments in Canada for general occupancy in locations where more rental units are needed.
• Through RCFI, the federal government is encouraging the construction of more than 71,000 rental units.
• A stable supply of rental housing is essential for more people in Canada to have access to affordable housing that meets their needs. Rental housing is an excellent option for the middle class in many markets where house prices are rising and the supply of rental housing is insufficient.
• Launched in 2020, the Rapid Housing Initiative (RHI) is delivered by the Canada Mortgage and Housing Corporation (CMHC), under the NHS.
• The first two rounds of the RHI exceeded expectations and are expected to create more than 10,000 units instead of the 7,500 initially planned. This includes more than 3,300 units to support women and more than 4,200 units to support Indigenous Peoples.
• The RHI takes a human rights-based approach to housing, serving people experiencing or at risk of homelessness and other vulnerable people under the NHS, 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.

Related links:

• As Canada's authority on housing, 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 the Canadian government, consumers and the housing industry. CMHC's aim is that by 2030, everyone in Canada has a home they can afford and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.
• Check out the National Housing Strategy Housing Funding Initiatives Map to see the affordable
• housing projects that have been developed across Canada.
• Ontario's most recent housing supply action plan – Helping Homebuyers, Protecting Tenants – is the latest in a series of steps taken by the province to help more people find a home they can afford. For more information on affordable housing in Ontario, visit ontario.ca/affordablehousing or follow us on Twitter.

SOURCE Canada Mortgage and Housing Corporation

Mahreen Dasoo, Office of the Minister of Housing and Diversity and Inclusion, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]