Today, Bobby Morrissey, Member of Parliament for Egmont, on behalf of the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, the Honourable Rob Lantz, Minister of Housing, Land and Communities and Dan Kutcher, Mayor of Summerside, announced $5 million in funding for Summerside, one of the 41 recipients of the third round of the Rapid Housing Initiative’s (RHI) city stream. This investment is set to help create at least 24 new units.
As part of its Investment Plan for the Cities Stream, the City of Summerside contributed the required lands and submitted one project for a total of approximately of 24 units of affordable housing. The proposal includes:
- BGC Prince County's Affordable Housing Initiative, a project that will provide at least 24 units of housing for women and children at risk of homelessness
The Government of P.E.I is providing a 20-year forgivable loan in the amount of $2,000,000 to support construction and a 20-year annual operating grant of $75,000 to support operational costs when the units open.
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 expected to create at least 4,500 more affordable housing units for Canadians in severe housing need across the country, with 25% 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.
“Everyone deserves a safe and affordable place to call home. Through the Rapid Housing Initiative, we are quickly providing new affordable housing units for people who need them most, right across Canada, including here in Summerside. By working closely with our partners to create more affordable housing that meets the needs of Canadians, our government is continuing to deliver meaningful results for Canadians. This is one of the many ways our National Housing Strategy continues to ensure no one is left behind.”
“This investment will continue to help Islanders who need it most have to access safe and affordable housing that meets their needs, while also creating jobs for the local economy, here in Summerside. Our government remains committed to working with our partners to develop and implement solutions to housing in Summerside, and across Canada.”
“The Province of Prince Edward Island is pleased to support these new affordable housing units which will help the overall supply of affordable housing options and take Islanders off the social housing registry in Summerside. The safety and security that comes with having a house to call your own makes it possible to take steps towards wellness, growth and success. Our government will continue to work with our partners to improve housing options for Islanders right across the housing continuum.”
“Today’s announcement means more attainable housing is being built in Summerside for some of our most vulnerable residents. I am extremely proud of our City’s leadership and our land contribution that has helped make this project come to life. Building more affordable housing requires collaboration and partnership between all levels of government, and this project is a wonderful example of all levels of government coming together along with a community organization to make a meaningful difference for those who need it most.”
- 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.
- The first two rounds of the RHI exceeded expectations and are expected to create more than 10,000 units instead of the 7,500 initially planned. This includes more than 3,300 units to support women and more than 4,200 units to support Indigenous Peoples.
- 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.
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, 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.
Information on this news release:
Office of the Minister of Housing and Diversity and Inclusion
Canada Mortgage and Housing Corporation