A $60 million federal investment has been earmarked for the Northwest Territories under the National Housing Co-Investment Fund. This financing will support the construction of 126 new affordable, energy-efficient units across the territory.
3 Key Goals
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This is the largest single-year housing investment in the Northwest Territories by any federal government in the past 25 years
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The special Northern carve out through the National Housing Co-Investment Fund responds to the unique housing needs and challenges in the Northwest Territories and across the North.
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The Northern housing carve out complements Northwest Territories Housing Corporation’s efforts to reduce the core housing need across the territory.
Project scope and expected outcomes
The $60 million National Housing Co-Investment Fund Northern housing carve out will be used to build 128 affordable units across the territory, improving the quality of life for priority residents. Funding will be allocated in time for the 2021 construction season.
Approximately $25.5 million of the funding will be administered by Northwest Territories Housing Corporation. It’ll be used to build 60 affordable homes in 16 remote communities, that will be started within a year.
The remaining $34.5 million will go towards supporting Indigenous governments and organizations. This will be used create 66 affordable units in 6 community-led projects. Projects include repairs and new construction of mixed-income, mixed-tenure and mixed-use energy-efficient housing.
All housing built through this funding will meet the National Housing Co-Investment Fund’s affordability, energy efficiency and greenhouse gas emissions reduction requirements.
- Affordability: Rent affordability will be maintained for at least 20 years. The rental rate for a minimum of 30% of the units will be on average below 80% of the median market rental rate.
- Energy efficiency and green house gas emissions: Energy consumption and greenhouse gas emissions will be reduced by at least 50%,as outlined by the 2015 National Energy Code for Buildings or the 2015 National Building Code.
- Accessibility: 35% of the homes will meet or exceed accessibility criteria set out in the program.
Financing through the National Housing Co-Investment fund compliments Northwest Territories Housing Corporation’s goal of reducing core housing need and developing at least 100 affordable homes in 4 years. When 2 levels of government partner, more public resources are available to provide housing to those who need it most.
The Northern housing carve out was created in recognition of the unique housing challenges faced by Northern communities. These include a short construction season, high construction costs and limited access to skilled labour and trades.
In addition to providing much-needed housing in the North, the creation of 126 affordable units has the added benefit of job creation and stimulating local economies.
Initiative Name: $60 million Northwest Territories carve out under the National Housing Co-Investment Fund
Location: Northwest Territories
National Housing Strategy Initiative: National Housing Co-Investment Fund
Total Federal Funding Amount:
- National Housing Co-Investment Fund: $60 million
Project Collaborators/Partners:
National Housing Strategy Priority Areas:
- Indigenous peoples
- People experiencing homelessness
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