At least 48 new units of affordable housing will be built in Ottawa thanks to funding announced Monday by the federal government.
The city will receive $18.5 million under the third round of the Rapid Housing Initiative’s “city stream.”
“The need for affordable housing in Ottawa continues to grow,” said Ottawa Mayor Mark Sutcliffe in a news release. “Thanks in part to this contribution from the Government of Canada, we can continue working towards our goal of supporting vulnerable members of our community and ensuring that everyone has access to safe and affordable housing across the city.”
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“Today’s funding through phase three of the Rapid Housing Initiative will go a long way to support those who need it most by quickly providing over 48 new affordable homes in Ottawa,” said Ottawa-Vanier MP Mona Fortier, president of the Treasury Board, in the release.
“To end chronic homelessness we need sustained, consistent funding. We are doing just that through the Rapid Housing Initiative to help Canadians access safe, affordable and social housing that meets their needs, while also creating jobs for the local economy, here in Ottawa,” added Ottawa Centre MP Yasir Naqvi.
Ottawa is one of 41 recipients in the third round of the initiative’s “city stream.” The initiative facilitates the rapid construction of new housing and the acquisition of existing buildings for the purpose of rehabilitation or conversion to permanent affordable housing units. It is managed by the Canada Mortgage and Housing Corp. under the federal National Housing Strategy.
The additional $1.5 billion announced Monday will be divided into two streams: $1 billion through the projects stream and $500 million toward the city stream. The federal government has invested a total of $4 billion in the initiative.
According to the release, the first two rounds of the initiative are expected to create more than 10,000 housing units versus the 7,500 initially planned. This includes more than 3,300 units to support women and more than 4,200 units to support Indigenous peoples.