CANADA LAUNCHES THIRD ROUND OF RAPID HOUSING INITIATIVE

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

Government of Canada (CNW Group/Canada Mortgage and Housing Corporation)

TORONTO, Nov. 10, 2022 /CNW/ - Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, alongside Jean Yip, Member of Parliament for Scarborough—Agincourt, on behalf of Nathaniel Erskine-Smith, Member of Parliament for Beaches—East York, John Tory, Mayor of Toronto, and Brad Bradford, Councillor of Beaches-East York, announced the launch of the third round of the Rapid Housing Initiative (RHI), as well as the 41 municipalities selected to receive funding under the Cities Stream. This is made possible by the Government of Canada's additional investment of $1.5 billion through RHI, bringing the program's total to $4 billion to support the country's most vulnerable. This investment is expected to create at least 4,500 more affordable housing units for Canadians in severe housing need across the country, with 25% of investments going towards women-focused housing projects.

RHI 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. The $1.5 billion funding for the third round of RHI will be divided into two streams: Projects Stream and Cities Stream. 

A total of $1 billion will be available under the Projects Stream via an applications-based process. Eligible applicants for this stream include provinces, territories, municipalities, Indigenous governing bodies and organizations, and non-profit organizations. An application portal will be available through Canada Mortgage and Housing Corporation (CMHC) beginning on December 12.

The $500 million under the Cities Stream will be allocated to the following 41 municipalities:

Calgary Edmonton Burnaby Capital Regional District Richmond Surrey Vancouver Brandon Winnipeg Fredericton Moncton Happy Valley - Goose Bay St. John's   *Regional Municipality

Halifax Cape Breton RM* Yellowknife Iqaluit Whitehorse County of Simcoe Greater Sudbury Halton Region Kingston London Niagara Region Region of Durham Region of Waterloo RM* of Peel

Toronto Ottawa Hamilton Windsor RM* of York Charlottetown Summerside Gatineau Laval Longueuil Montréal Québec Regina Saskatoon

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.

Quotes:

"Everyone deserves a safe and affordable place to call home. Through the Rapid Housing Initiative, we are quickly providing new affordable housing units for people who need them most, right across Canada. By working closely with our partners to create more affordable housing that meets the needs of Canadians, our government is continuing to deliver meaningful results for Canadians through our innovative National Housing Strategy programs. This is one of the many ways our National Housing Strategy continues to ensure no one is left behind." – The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"Affordable housing is key to ensuring everyone has a safe place to call home and the Rapid Housing Initiative is an important part of our plan to create affordable housing and end chronic homelessness across our Country.'' – Nathaniel Erskine-Smith, Member of Parliament for Beaches—East York

We know that everyone in Ontario, and across Canada, deserves adequate and affordable housing. Creating housing rapidly to address this housing crisis is a priority for our Government. This new funding is part of our commitment to addressing severe housing needs across the country. It will provide immediate support to create safe and stable housing to thousands of vulnerable low-income individuals and families throughout the country." – Jean Yip, Member of Parliament for Scarborough—Agincourt

" I'm grateful to the Government of Canada for recognizing the urgency of developing affordable and supportive housing. The success of the Rapid Housing Initiative demonstrates the importance of partnerships in achieving our housing goals. Only when we work together to create more affordable housing options can our communities in Toronto prosper and grow. Today, together with our federal partners we are getting one step closer to ensuring that no one is left behind. This new funding will help the City of Toronto to fulfill our ambitious affordable housing targets set in our 10-year HousingTO 2020-2030 Action Plan.'' – John Tory, Mayor of Toronto

Quick facts:

• The Government of Canada's National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest more than $72 billion to give more Canadians a place to call home
• Launched in 2020, the Rapid Housing Initiative (RHI) is delivered by 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.
• 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:

• For more information on RHI3 and eligibility criteria, visit cmhc.ca
• 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 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, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, visit: www.placetocallhome.ca
• Check out the National Housing Strategy Housing Funding Initiatives Map to see affordable housing projects that have been developed across Canada.

SOURCE Canada Mortgage and Housing Corporation

Arevig Afarian, Press Secretary, Office of the Minister of Housing and Diversity and Inclusion, [email protected]; Media Relations: Canada Mortgage and Housing Corporation, [email protected]