This week, I joined Prime Minister Mark Carney, Minister of Housing and Infrastructure Gregor Robertson, and MP colleagues to announce a major federal investment to build thousands of new rental homes across Toronto.
Our government is providing more than $2.7 billion in federal funding and low-cost financing to advance 18 projects and deliver more than 5,600 new rental homes. Our government will provide over $310 million towards nine projects that will create 1,885 rental homes, and $1.8 billion in low-cost financing to deliver over 3,700 rental homes, including 1,079 affordable homes.
Every home in this portfolio is a rental. Together, the projects will provide affordable, supportive, rent-geared-to-income and rent-controlled housing, because a healthy housing system needs the full range of rental options.
Through Build Canada Homes and the Canada Mortgage and Housing Corporation, we are using every tool available to increase housing supply, accelerate construction, and help bring housing costs down.
I will continue to advocate we do everything possible to make life and housing more affordable.
Click here for more information on the announcement.
