Federal government invests in 57 affordable homes in Estrie

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

COWANSVILLE, QC, Aug. 1, 2024 /CNW/ - Today, the federal government announced more than 3.2 million in contributions and low-cost loans through the Affordable Housing Fund (AHF) to help build and repair 57 affordable homes in Estrie.

The announcement was made by the Honourable Pascale St-Onge, Minister of Canadian Heritage and Member of Parliament for Brome-Missisquoi – on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities – alongside the Honourable Pablo Rodriguez, Minister of Transport and Quebec Lieutenant, and Élisabeth Brière, Member of Parliament for Sherbrooke.

The federal funding announced is contributing to the construction of four housing projects, including 52 new housing units. A detailed list of all the 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 

"In the Eastern Townships, as elsewhere in Canada, access to affordable housing is crucial to the stability and well-being of our communities. Today's announcement is a concrete example of our commitment to helping our region's citizens. This investment in 57 housing units is the fruit of an essential collaboration and testifies to our commitment to making our society more inclusive and accessible for all."– The Honourable Pascale St-Onge, Minister of Canadian Heritage and Member of Paliament for Brome-Missisquoi

"Investing in affordable housing isn't about pouring money into concrete. It's about investing in the well-being of Canadians. Like the future residents of these units, who will have access to a safe and comfortable place to call home, where they can rest, recharge and welcome their loved ones. We continue to deliver for Quebecers by taking concrete action that makes a real difference."– The Honourable Pablo Rodriguez, Minister of Transport and Quebec Lieutenant

"We are committed to supporting projects that meet the needs of the most vulnerable in our community. By investing in infrastructure like this, we offer not only a roof over our heads, but also hope and a chance to rebuild shattered lives."– Élisabeth Brière, Member of Parliament for Sherbrooke

Quick facts:

• The announcement took place at 116 Léopold Street in Cowansville. The project received $358,800 in funding from the Government of Canada through the Rapid Housing Initiative.
• The federal funding announced today is helping create a total of 52 new homes and is leading to the repairs of 5 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.
• 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

Project Name	Region/City	Funding ($)	Units
Le Chevalier	Lac-Mégantic	2,374,599	21
Val-des-Sources (rue St-Roch)	Val-des-Sources	400,000	16
Shelter	Cowansville	345,018	15
Shelter	Lac-Mégantic	100,000	5
TOTAL		3,219,617	57

SOURCE Canada Mortgage and Housing Corporation (CMHC)

Contacts: Micaal Ahmed, Office of the Minister of Housing, Infrastructure and Communities, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]