The federal government announced Monday, $145. 6 million in “historic funding” from the federal government for the repair and regeneration of 6,290 affordable housing units.
“We are grateful for this historic contribution, from the Government of Canada. Safe, affordable housing is a critical determinant of health and wellbeing in a community, which is why addressing homelessness and affordable housing remains a top priority for Hamilton City Council,” said Fred Eisenberger.
This funding demonstrates the “collective commitment to safe and dignified housing for vulnerable members of the community…and supports much needed repair and renewal…”
“Also improves the accessibility and energy efficiency to a large portion of affordable housing units that will continue to provide critical affordable housing for thousands of Hamiltonians in the years to come.
Many of these units will be for priority vulnerable groups, with almost half of the units dedicated to seniors across the city,” shares Eisenberger.
“This is an investment that will improve lives and make our city a better place. I am proud to have worked hard with Hamilton’s affordable housing and anti-poverty advocates, as well as with my Liberal colleagues, to have achieved it,” said Filomena Tassi, Minister of Labour.
According to the minister responsible for Canada Mortgage and House Corporation, Ahmed Hussen, this investment “will improve the living standards and housing conditions for thousands of vulnerable residents and families across Hamilton.”
This funding is being delivered through CMHC’s National Housing Co-Investment Fund (NHCF), which supports new and revitalization construction of mixed-income, mixed-tenure, and mixed-use affordable housing. The NHCF is a key pillar of the Government of Canada’s National Housing Strategy (NHS).
The announcement is backed by the additional 241 homes in Hamilton that have been built or rejuvenated, as a result of the Co-Investment Fund so far.
These homes are designated to those most at-risk, including women and their children, people with disabilities, and seniors.
The 2021 Federal Budget, announced last week, that $750 million in NHCF funding was made available in 2021-22 and 2022-23.
This will accelerate the creation of 3,400 new units, and the repair of 13,700 units.
Ahmed Hussen, Minister of Families, Children and Social Development, alongside with Filomena Tassi, Minister of Labour, Marco Mendicino, Minister of Immigration, Refugees and Citizenship, and Bob Bratina, Member of Parliament for Hamilton East—Stoney Creek, shared with Hamilton’s Mayor, the news, during a video-conference call.