The Federal Government announces new housing investment fund
The Canadian government has announced a new investment fund as part of the National Housing Strategy. The National Housing Co-Investment Fund (NHCF) will see the government work with partners to build up to 600,000 new affordable housing units and repair over 240,000 affordable and community units over the next 10 years! These will also be funding for thousands of homes for the most vulnerable people in Canada!
The focus is on strengthening the middle class, fuelling the economy, and giving thousands of people affordable housing options. The minister responsible for CMHC, Jean-Yves Duclos, said that the National Housing Strategy is partly built on the Federal government collaborating with partners. According the the minister, by working with partners at all levels, more middle class Canadians along with those working hard to join it, will find safe, accessable, affordable homes, in vibrant and inclusive communities where families thrive, chilldren accessible, affordable homes, in vibrant and inclusive communities where families thrve, children learn and grow, and their parents have the stability and opposrtunity they need to succeed.
To maximize the impact of the NHCF, up to $200 Million worth of Federal lands will be made available to social and affordable housing providers at a discounted or no cost to encourage the development of affordable homes.
The NHCF will be delivered in tandem wit the recently created $3.75 billion rental construction financing initiative and the $208.3 Million affordable housing innovation fund. Combined, these three initiatives represent an investment of over $17.15 billion. This includes investments under investing Canada Plan!
Have Questions regarding Real Estate? The Iris and Evelyn team are here to help! With their countless years of buying and selling Real Estate Properties, their experience and knowledge can help you make the right choice! Go Canada!
Visit us on