The Canada Mortgage and Housing Corporation recently announced that since 2016 nearly 1 million people across the country have benefitted from the federal government's investments in building more affordable housing.
In the last two years, more than $5.7 billion has gone towards affordable housing supporting families, seniors, Indigenous people, persons with disabilities, those with mental health and addiction issues, veterans, young adults, and women and children fleeing domestic violence.
"We are working to make sure every Canadian has access to a safe and affordable place to call home,” says Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development. “We are committed to making housing more affordable and thanks to the investments made by the Government of Canada, almost 1 million families across Canada have an affordable home. Canada's first ever National Housing Strategy, a $40 billion program, will build on this success in the years to come."
In Ontario alone, more than $2 billion has been invested, supporting 310,387 individuals across the province. This is a large amount considering the next largest amount of money was just under $1 billion in Quebec.
In total, more than 980,000 individuals benefited from the affordable housing investments. The investments went towards new units and repairs. There were also more than 25,000 Canadians who were homeless or at serious risk of homelessness who were assisted through the federal funding.
"From the very first day of our Government's mandate, we have made housing a clear priority. And it's paying off – with real results and real impacts across the country,” says Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development. “Today's announcement shows the progress we've made since 2016 and sets a benchmark for future results. Our Government is only getting started. The National Housing Strategy will build on this momentum to benefit even more Canadians in the months and years to come."
We’re curious to see how phases of the National Housing Strategy roll out. There are some details outlined in this release, like how $2 billion will be spent over 10 years, addressing Canada’s homelessness issue.
Recently, the Centre for Urban Research and Land Development reported that all levels of government need to think bigger when it comes to affordable housing initiatives.
With $40 billion in play with the National Housing Strategy, it’s time to be looking at things like 3D printing and other new building technology, more strategic partnerships with the private sector, and more flexible policies that allow for more creative types of housing.