CANADA SUPPORTS AFFORDABLE HOUSING FOR BLACK CANADIANS

OTTAWA, ON, Feb. 1, 2022 /CNW/ - Everyone in Canada deserves a safe and affordable place to call home. The COVID-19 crisis has made it clear that affordable housing is key to Canada's recovery, as communities across the country are dealing with the devastating impacts of rising levels of homelessness and housing need.

Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, announced up to $50 million dedicated to building housing for Black households.

This funding through the National Housing Co-Investment Fund (NHCF) will support Black-led organizations to build housing, as well as more affordable housing for Black renter households in Canada.

Under this agreement, the $50 million carve-out will build upon the various investments and initiatives undertaken by CMHC to support Black Canadians facing housing needs, including a joint investment of $40 million with Habitat for Humanity Canada to support homeownership for Black families across the country.

Through the National Housing Strategy's National Housing Co-Investment Fund, the Government of Canada is assisting those in greatest need by creating a new generation of housing in Canada. This investment is another step forward in the federal government's work to alleviate inequities faced by Black Canadians and supporting Black Canadians in core housing need.

Quotes:

"In Canada, diversity is a fact but inclusion is a choice. That also means recognizing that different Canadians face unique challenges, especially when it comes to finding a safe and affordable place to call home. This carve-out for Black Canadians through the National Housing Co-Investment Fund will support vulnerable members of the Black community. This is another way our National Housing Strategy is ensuring no one is left behind. "— The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion and Minister responsible for Canada Mortgage and Housing Corporation

Quick facts:

• Nearly a quarter of Black Canadians are in core housing need, 80% among them pay 30% or more of their income towards housing.
• Among renters alone, over a third are in core housing need. Incidence of core housing need among Black Canadians is among the highest in major cities, and about 88,000 Black households are in core housing need
• The $50 million carve-out for Black households within the National Housing Co-Investment Fund (NHCF) seeks to encourage more applications for Black-led projects and projects serving Black households under this program.
• With a budget of $13.2 billion, the NHCF gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous people, people with disabilities, those with mental health or addiction issues, veterans, and young adults, and racialized groups.
• With the $13.2 billion NHCF, the Government plans to:
• Create up to 60,000 new affordable homes
• Repair up to 240,000 affordable and community homes
• Create or repair at least 4,000 shelter spaces for victims of family violence
• Create at least 7,000 new affordable homes for seniors
• Create at least 2,400 new affordable homes for people with developmental disabilities
• As of August 2021, the NHS has built over 68,700 new units of housing, repaired and renewed over 90,400 homes, and has reduced or eliminated housing need for 320,000 households.
• Canada's National Housing Strategy (NHS) is a 10-year, $72+ billion plan that will give more Canadians a place to call home. It is grounded in a human rights-based approach to housing that prioritizes the needs of population groups that are in housing need or experience homelessness.

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 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.

SOURCE Government of Canada

Information on this news release: Arevig Afarian, Office of the Minister of Housing and Diversity and Inclusion, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]