As Canadians have done their part to contain the spread of COVID-19, home has become a sanctuary — a place of safety and refuge. That is why the Government of Canada is ensuring that every Canadians has a safe and affordable place to call home.
Today the Government of Canada, Province of Ontario and the Region of Peel made an historic announcement that will result in thousands of more families having a safe and affordable place to call home in Peel.
The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation with the Region of Peel Chair Nando Iannicca, announced a more than $276 million financial commitment from the federal government through the National Housing Co-Investment Fund (NHCF) for the creation of new affordable housing in Peel. The Honourable Prabmeet Singh Sarkaria, Associate Minister of Small Business and Red Tape Reduction, and Member of Provincial Parliament for Brampton-South was on hand to speak to provincial housing contributions.
This announcement represents the single largest individual housing investment ever made by the Government of Canada in the Region of Peel.
These funds, along with the Province of Ontario’s support and Peel Regional Council’s commitment will enable the Region of Peel to begin development of new housing projects which will total up to 2,240 affordable rental units and shelter beds on Region-owned sites over the next eight years.
“Our Government is investing in affordable housing in Peel Region and across Canada to help create jobs and improve the quality of life for those who need it most. With our partners, we are providing a helping hand to individuals and families in need, and in doing so, we are contributing to the economic and social well-being of Peel Region.”
“Every Ontarian deserves a place to call home — that’s why our government has made expanding access to housing a priority. We are proud to be working with our partners in Peel Region to create solutions that provide much-needed affordable housing for low income families. This investment will help people find homes that meet their needs in the community they love.”
“On behalf of Region of Peel Council, we are thrilled to partner with the Government of Canada to build much-needed affordable housing in Peel. These significant investments enable the Region of Peel to add thousands of new affordable rental housing units as well as shelter beds for residents who are most in need. The magnitude of Peel’s affordable housing shortage is being heightened by the effects of the pandemic as more individuals and families are finding themselves in urgent need of affordable housing. This demands that all levels of government work together, and we’ll continue to explore innovative partnerships with both the federal and provincial governments to fulfill our plan for creating more affordable housing in Peel.”
- The developments in this portfolio will target vulnerable populations including survivors of family violence, seniors, people experiencing homelessness, people with physical and mental disabilities, people with mental health and addiction issues and newcomers to Canada.
- About 17,000 Peel households live in community housing, making up only 15% of all renters in Peel; the vacancy rate for market rental housing in Peel remains low at 1.2%.
- The portfolio aims to achieve 41 – 55% reduction in energy consumption and greenhouse gas emissions relative to the 2015 National Energy Code for Buildings.
- Peel Region has one of the highest growth rates in the Greater Toronto Area over the past 20 years, a trend which is expected to continue.
- The Government of Canada is currently rolling out its National Housing Strategy (NHS), an ambitious 10-year, $55 billion plan that will create 125,000 new housing units and lift 530,000 families out of housing need, as well as repair and renew more than 300,000 housing units and reduce chronic homelessness by 50 percent.
- The partnership between the Government of Canada, the Province of Ontario and the Region of Peel will enable the Region to move forward with its $1 billion plan to build more affordable housing in Peel. This investment will add up to 2,240 new affordable rental units and shelter beds on Peel Housing Corporation and Region-owned sites by 2028.
- With a budget of $13.2 billion, NHCF gives priority to projects that help those in greatest need, including women and children fleeing family violence, seniors, Indigenous Peoples, people with disabilities, those dealing with mental health and addictions, veterans and young adults.
- Through the NHCF, the Government of Canada will work with partners to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes over the next 10 years.
- Investments are also planned in the NHCF to create or repair at least 4,000 shelter spaces for victims of family violence and create at least 7,000 new affordable housing units for seniors and 2,400 new affordable housing units for people with developmental disabilities.
- As part of the Community Housing Renewal Strategy, the Province is investing nearly $1 billion in 2020 – 21, which will help sustain, repair and grow community housing and help end homelessness in Ontario.
- Ontario has announced $350 million in funding to help stop the spread of COVID-19 and keep vulnerable people safe. This includes funding to local service managers and Indigenous program administrators who were given the flexibility to expand the key services they already offer to meet their local needs, including supporting people having a hard time paying rent.
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. For more information, follow us on Twitter, YouTube, LinkedIn, Instagram and Facebook.
Ontario is committed to increasing housing supply across the province, while getting the best value for taxpayers. Cutting red tape will bring housing to market faster — leading to lower housing costs and helping people keep more of their hard-earned dollars. For more information on affordable housing in Ontario, visit ontario.ca/affordablehousing or follow us on Twitter.
The Region of Peel works with residents and partners to create a healthy, safe and connected Community for Life for approximately 1.5 million people and over 175,000 businesses in the cities of Brampton and Mississauga and the Town of Caledon. Region of Peel's services touch the lives of residents every day. For more information about the Region of Peel, explore peelregion.ca and follow us on Twitter @regionofpeel and Instagram @peelregion.ca.
To find out more about the National Housing Strategy, visit www.placetocallhome.ca.
Information on this release:
Office of the Minister of Families, Children and Social Development
Canada Mortgage and Housing Corporation
Region of Peel