Feds, province commit $132 million for 380 housing units
The federal and provincial governments have announced a combined investment of nearly $132 million to support the construction of over 380 housing units across Ontario.
The first project will build more housing for veterans and will be operated by Royal Canadian Legion Branch 25 at Great Northern Rd in Sault Ste. Marie.
It aims to replace the existing building with a nine-storey accessible tower, which will encompass 107 units, of which more than 30 percent will be below market rent. The building will have amenities for the tenants, their families, and the community, including a restaurant, meeting rooms, a hall, and a gathering place.
"The need for affordable housing is immense, and the lasting impacts it can have on homeowners and their families are profound and capable of transforming communities,” said Sault Ste. Marie Mayor Matthew Shoemaker. “It is paramount that all levels of government collaborate to ensure people have access to home ownership opportunities, and the city is pleased to work with our government and community partners in support of these important projects.”
The project received $32.1 million in federal funding through the National Housing Co-Investment Fund (NHCF) and $1.9 million from Veteran's Housing Ontario Inc.
The second portfolio of projects will be owned and operated by Ontario Aboriginal Housing Services (OAHS), with nine projects serving communities across Ontario, creating 276 affordable units to support Indigenous peoples.
Some projects will support Indigenous people who are experiencing or at risk of chronic homelessness, while others will support at-risk Indigenous youth and women and their children. This portfolio of projects will receive nearly $ 87 million in federal funding through the NHCF.
"Working together, among all levels of government, is essential to address the housing needs of Indigenous people living in urban and rural areas,” said Ontario Aboriginal Housing Services board chair Cora McGuire-Cyrette. “Safe, affordable, and culture-based housing is the foundation for healthy communities. The nine developments announced today, across Ontario, demonstrate that the task of building up our communities requires positive and productive partnerships to get the job done of successfully housing people in a good way."
Approximately $3.7 million has also been committed by the federal government and the Province of Ontario through the 10-year Ontario Priorities Housing Initiative bilateral agreement to build 45 units in Sault Ste. Marie and London, as well as $7.2 million from OAHS in the form of land and cash equity.
The agreement provides more than $5.75 billion to protect, renew and expand community housing, support Ontario's priorities related to housing repair, construction and affordability, and deliver direct affordability support to Ontarians who need housing.
Construction of the Royal Canadian Legion Branch 25 project is expected to be completed by December 2023, while construction of the OAHS portfolio of projects is expected to be completed by the end of 2025.