New housing units will support the region’s most in-need individuals
As home prices and demand continue to heat up across Ontario, governments and housing organizations have announced a multi-million investment in the immediate construction of affordable homes in the province’s Peel Region.
The $32.75-million investment, which will be provided through the Rapid Housing Initiative of the Canada Mortgage and Housing Corporation, will support the development of approximately 77 low-cost housing units.
“Our investments will go a long way to effectively support those who need it most by quickly providing new affordable housing units to vulnerable Canadians in the Region of Peel, while addressing the unique barriers faced by at-risk communities, including seniors and racialized Canadians,” said Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for CMHC.
Read more: What’s happening with house price growth in Canada?
Of the investment funds, $2.3 million will be allocated to the Armagh Housing Expansion project in Mississauga, supporting the construction of new units for vulnerable women and their children.
“With the Rapid Housing Initiative funds, Peel will be able to offer support to residents in need,” said Nando Iannicca, regional chair of Peel. “This expansion will greatly increase Armagh’s capacity – providing a safe place and crucial support services for more women and children fleeing domestic violence.”
The remaining $30.3 million will help build 67 affordable homes in Brampton, aimed at addressing the needs of homeless Canadians.
