Government of Canada supporting more affordable housing in Yukon

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

(CNW Group/Canada Mortgage and Housing Corporation)

Every Canadian deserves a safe and affordable place to call home.

WHITEHORSE, YK, March 11, 2021 /CNW/ - Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with the Honourable Pauline Frost, Minister Responsible for Yukon Housing Corporation and Larry Bagnell, Parliamentary Secretary to the Minister of Economic Development and Official Languages (Canadian Northern Economic Development Agency) and Member of Parliament for Yukon, announced a Memorandum of Understanding between the Government of Canada and the Yukon Housing Corporation for a contribution of $20 million over five years to support the construction of new housing units in Yukon.

Funding is delivered through the National Housing Co-Investment Fund (NHCF), as part of a northern carve-out specifically created for Yukon, totaling $40 million. Announced today, $20 million will be administered by Yukon Housing Corporation to address identified housing pressures in rural communities and in Whitehorse, to increase choice along Yukon's housing continuum with particular focus on affordable accessible housing.

The other $20 million will go toward the new construction of mixed-income, mixed-tenure, and mixed-use affordable housing, supporting indigenous government, community housing provider and private sector projects.

Quotes:

"Our Government is investing in affordable housing in Yukon and across Canada to help create jobs and improve the quality of life for those who need it most. This investment will help improve housing affordability, accessibility, and energy efficiency in Yukon, and soon many individuals and families will have a new place to call home. We are providing a helping hand to vulnerable Canadians, and are ensuring that the economic and social needs of residents across Yukon are met." – The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation

"The work we are doing here through the National Co-Investment Fund is going to be transformational for so many people and families in Yukon. By engaging a portfolio approach with Yukon Housing Corporation we are able to cut down on time it takes to deliver housing, which is crucial to tackling the housing crisis. This important funding will help improve housing affordability, deepen our collaborative ties with Yukon Government and help get the local economy moving again." – Larry Bagnell, Parliamentary Secretary to the Minister of Economic Development and Official Languages (Canadian Northern Economic Development Agency) and Member of Parliament for Yukon

"This funding aligns with the Housing Action Plan for Yukon and allows the Government of Yukon to respond quickly to specific and unique housing pressures we see in the territory. We will use this funding to address housing need in our Yukon communities, focussing on our commitments to help Yukoners age in place, and find affordable housing that meets their needs." – The Honourable Pauline Frost, Minister responsible for the Yukon Housing Corporation

Quick facts

• The northern carve-out of contribution funding within the National Housing Co-Investment Fund is available to offset high construction costs caused by the unique building challenges faced in the north.
• 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.
• Through the NHCF, the Government of Canada will work with partners to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes.
• Under the NHCF, investments are also planned to create or repair at least 4,000 shelter spaces for victims of family violence, as well as create at least 7,000 new affordable housing units for seniors and 2,400 new affordable housing units for people with developmental disabilities.
• Canada's National Housing Strategy (NHS) is a 10-year, $70+ billion plan that will give more Canadians a place to call home—this includes more than $13 billion committed through the 2020 Fall Economic Statement.

Related links:

• Yukon Housing Corporation
• 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 Canada Mortgage and Housing Corporation

Mikaela Harrison, Press Secretary, Office of the Minister of Families, Children and Social Development, 819-654-5546, [email protected]; Leonard Catling, Media Relations, Canada Mortgage and Housing Corporation, [email protected]; Renée Francoeur, Cabinet Communications, 867-334-9194, [email protected]; Sarah Murray, Communications, Yukon Housing Corporation, 867-334-9320, [email protected]

Related Links

www.cmhc-schl.gc.ca