New housing will emerge in multiple projects across the region
More than $100 million in federal funding will go towards the development of new affordable homes across seven projects in Toronto.
Federal and local government have announced $105.5 million in federal funding to build approximately 260 new homes through the Rapid Housing Initiative (RHI). The projects and their allocations are as follows:
- 136 Kingston Road – $9.5 million
- 525 Markham Road – $26.6 million
- 25 Augusta Avenue – $12.5 million
- 60 Bowden Street – $19.8 million
- 150 Eighth Street – $31 million
- 1120 Ossington Avenue – $4.5 million
- 1080 Queen Street East – $1.6 million
“New investments under the RHI will create thousands of good jobs in the housing and construction sector, grow the middle class, and build back stronger communities while getting us closer to our goal of eliminating chronic homelessness in Canada,” CMHC said.
Read more: Report: Climate-conscious approach a key component of housing affordability
“These seven projects demonstrate how our governments and community partners are working together to get more housing built as soon as possible. Supporting Indigenous-led housing projects and creating new supportive and affordable homes is an important part of the affordable housing strategy in our HousingTO 2020-2030 Action Plan and I look forward to seeing these projects get up and running,” added Toronto Mayor John Tory.
