On Friday, the federal government announced a $105 million investment in a bid to improve Toronto’s affordable housing infrastructure. The announcement is in line with Toronto’s Affordable Housing Fund (AHF) which is to fund the construction, renovation, and repairment of affordable community housing through small-interest/forgivable loans. Feds said it would be investing over $105 million in contributions and low-interest loans to help build and repair 5,235 affordable homes in the city.
Minister of Housing, Infrastructure and Communities, Honourable Sean Fraser said, “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.”
Detailing the initiative, Minister of Crown-Indigenous Relations, and Member of Parliament for Scarborough – Rouge Park, The Honourable Gary Anandasangaree said, “We’ve heard the people of Toronto loud and clear: build good homes fast, and that is exactly what we’re working to do. Today’s announcement means over five thousand new affordable units in our great city; that’s homes for students, families, and hard-working Canadians across the board. We’ll continue to be ambitious and keep building!”
He described how the funding would go into the construction of 206 new homes and repairs of 5,029 homes in the city. He also announced $30M in funding for the Governing Council of the Salvation Army in Canada to repair 3,000 units across the country.
