Canada Doubles Down On Housing Construction

In order to double housing construction to meet the country’s housing needs, the government of Canada is making what it calls “historic investments” which include funding from Budgets 2021 and 2022. The funding will comprise a major investment of $2 billion to support key initiatives that, together, will help create nearly 17,000 homes for families across the country. It will help create 4,500 affordable housing units by extending the Rapid Housing Initiative for a third round and create at least 10,800 housing units, including 6,000 affordable units, through the Affordable Housing Innovation Fund. Additionally, it will help create a five-year rent-to-own stream under the Affordable Housing Innovation Fund to help housing providers develop and test rent-to-own models and projects.