The federal government said Thursday it’s providing nearly $168 million for hundreds of new affordable housing units just west of downtown.
The money – most in the form of a mortgage to the City of Ottawa – will go toward the construction of 698 residential units in four separate buildings at 811, 818 and 933 Gladstone Ave. The Ottawa Community Housing Corp. will manage the units, about a quarter of which will be rented at a rate lower than 80 per cent of the neighbourhood median.
The federal government’s contribution comes through the National Housing Co-Investment Fund, a promise from the 2018 budget. In a news release, the government said 179 of the units will also be earmarked for groups such as seniors, women and children who are victims of domestic violence, tenants facing mental health and addiction issues and newcomers to Canada.
Ottawa city council recently approved a plan to build 8,500 new affordable housing units by 2030 with the aim of eliminating chronic homelessness.