TORONTO, Nov. 10, 2023 /CNW/ – A safe and affordable place to call home is the foundation for building a life that people want and deserve. Having a reliable roof to live under brings stability and security, and it’s an important part of creating a better future for all Canadians. Today, the Government of Canada announced close to $44 million in funding to help create 106 affordable homes in Toronto.
The announcement was made by the Honourable Marco Mendicino, Member of Parliament for Eglinton—Lawrence, on behalf of the Honorable Sean Fraser, Minister of Housing, Infrastructure and Communities, alongside Mike Colle, Deputy Mayor and Councillor for Eglinton-Lawrence, City of Toronto.
The new project, Frankfort Family Reena Residence, located at 165 Elm Ridge Drive, will be a 20-storey building providing 106 affordable housing units for individuals and families in need of supportive, accessible, and affordable housing. Tenants of this project includes individuals with developmental disabilities (autism, brain injury, down syndrome, and pervasive developmental disorder), adults with physical disabilities and mental health challenges, and seniors with cognitive decline.
Completion of the project is expected by Winter 2024.
A breakdown of funding for this project includes:
- $43.9 million under the Projects Stream of the third round of the Rapid Housing Initiative (RHI);
- $8.1 million from the City of Toronto;
- $15 million from the Reena Foundation and $15 million from Batay Reena
This is made possible by the Government of Canada’s additional investment of $1.5 billion through RHI, bringing the program’s total to $4 billion to support the country’s most vulnerable. This investment is also expected to create at least 4,500 more affordable housing units for Canadians in severe housing need across the country, with 25 per cent of investments going towards women-focused housing projects.
RHI provides funding to facilitate the rapid construction of new housing and the acquisition of existing buildings for the purpose of rehabilitation or conversion to permanent affordable housing units. The additional funding for the third round of RHI will be divided into two streams: $1 billion through the Projects Stream and $500 million towards the Cities Stream.
Quotes:
“Everyone deserves a safe and affordable place to call home. Through the Rapid Housing Initiative, we are quickly building affordable homes for people who need them the most, right across the country. Thanks to today’s announcement over 100 affordable homes will soon be available for Torontonians. We know there is a lot more to do and we will continue working hard to end this crisis once and for all.” – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
“To support our vulnerable communities, we need sustained, consistent funding. We are doing just that through the Rapid Housing Initiative to help Canadians access safe, affordable housing that meets their needs, while also creating jobs for the local economy, here in Toronto. Today’s announcement is another step towards creating more equitable and affordable housing for all.” – The Honourable Marco Mendicino, Member of Parliament for Eglinton—Lawrence
“The affordable supportive housing site at 165 Elm Ridge Dr. is part of the City’s determined response to ensure all Torontonians have appropriate housing. This site will provide a safe, comfortable and inclusive space for people with disabilities. The opportunity to partner with the Government of Canada and Reena on this important project showcases our collective commitment to a more equitable future where everyone has a place to call home. Together, we need to act with more urgency to increase the supply of affordable supportive housing as quickly as possible.” – Olivia Chow, Mayor of the City of Toronto
“I’m very proud of this ground-breaking initiative for an affordable, supportive housing development here in the heart of Eglinton-Lawrence and I can’t wait to welcome the 106 new residents to our community. I’m looking forward to continuing our work with Reena Inc., our dedicated housing operator and trusted partner. Together, we will ensure that this project will bring a positive change, not only to provide welcoming homes for people with disabilities but for our whole community and to serve as a model for all of Toronto.” – Mike Colle, Deputy Mayor and Councillor (Eglinton-Lawrence), City of Toronto
“Reena is grateful for the support of Deputy Mayor Councillor Colle, the City of Toronto, the Canadian Mortgage and Housing Corporation, our generous donors and many others who helped us achieve our goal of providing deeply affordable supportive housing for vulnerable citizens. The Frankfort Family Reena Residence is Reena’s most ambitious residential project in its 50-year history. The project offers a unique Intentional Community housing model that combines independence, affordability and accessibility with 24/7 resources, creating a life-changing opportunity for vulnerable individuals, including those with developmental disabilities.” – Bryan Keshen, CEO, Reena
Quick facts:
- The Government of Canada’s National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest more than $82+ billion to give more Canadians a place to call home.
- Launched in 2020, the Rapid Housing Initiative (RHI) is delivered by the Canada Mortgage and Housing Corporation (CMHC), under the NHS.
- With its third phase, launched in 2022, the Rapid Housing Initiative once again exceeded targets. It is expected that over 5,200 new homes will be created, of which almost half will be for women and one third will be for Indigenous Peoples.
- The total number of units created with the support of the three rounds of the Rapid Housing Initiative is expected to be over 15,500 units.
- The RHI takes a human rights-based approach to housing, serving people experiencing or at risk of homelessness and other vulnerable people under the NHS, including women and children fleeing domestic violence, seniors, young adults, Indigenous Peoples, people with disabilities, people experiencing mental health and addiction issues, veterans, 2SLGBTQI+ individuals, racialized groups, and recent immigrants or refugees.
Related links:
- Visit Canada.ca/housing for the most requested Government of Canada housing information.
- To find out more, visit RHI3 and eligibility criteria.
- As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
- To find out more about the National Housing Strategy, visit: www.placetocallhome.ca
- Check out the National Housing Strategy Housing Funding Initiatives Map to see affordable housing projects that have been developed across Canada.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Featured image: Megapixl © Seoterra
