The National Housing Co-Investment Fund provides $13.2 billion in low-cost loans and/or capital contributions over 10 years to create new or repair existing affordable housing that covers a broad range of housing needs.
There are two streams within National Housing Co-Investment Fund:
The New Construction stream provides $5.19 billion in loans and $2.26 billion in capital contributions to support the construction of mixed-income, mixed-tenure, mixed-use affordable housing.
The Housing Repair and Renewal stream provides $3.46 billion in loans and $2.26 billion in capital contributions to repair and renew the existing community and affordable housing supply.
Housing projects must be affordable, energy efficient, accessible and socially inclusive.
The National Housing Co-investment Fund covers a broad range of housing needs, from shelters to affordable homeownership. It prioritizes projects that support partnerships between governments, non-profits, private sector, and others to make federal investment go further.
The National Housing Co-Investment Fund supports the needs of Canada’s vulnerable population and will:
- repair 240,000 units
- create 60,000 new units
- create or repair at least 4,000 shelter spaces for victims of family violence
- create at least 7,000 new affordable units for seniors
- create at least 2,400 new affordable units for people with developmental disabilities