Federal government invests in 542 affordable homes in Charlottetown

CHARLOTTETOWN, PE, July 29, 2024 /CNW/ – Today, the federal government announced more than $6.1 million in contributions through the Affordable Housing Fund (AHF) to help repair 542 affordable homes in Charlottetown and Lennox Island.

The announcement was made by the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food – on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities – alongside, Sean Casey, Member of Parliament for Charlottetown, and the Honourable Rob Lantz, Minister of Housing, Land and Communities for the province of Prince Edward Island.

It took place at the Canadian Mental Health Association’s (CMHA) Prince Edward Island’s chapter office, 178 Fitzroy Street in Charlottetown, which received $980,000 to repair 98 homes at several locations across the province. CMHA Charlottetown previously received $7.9 million in funding through the Rapid Housing Initiative (RHI) in 2022. Established in 1984, CMHA owns and operates residential units and programming spaces for those seeking mental health support.

A detailed list of all the projects that received funding is provided in an appendix to this release.

Quotes:

“Everyone deserves a place to call their own and the Affordable Housing Fund is one way we’re helping make that a reality for Canadians. We will keep investing in affordable housing projects like the ones announced today, and working with partners across the country, to end the housing crisis.” – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

“We’re working hard to make sure that every family, every senior, and every young person in Prince Edward Island has a roof over their head. Folks deserve access to safe, stable housing, and today’s investment of over $6 million to repair and maintain 542 affordable housing units across the province will make a real difference.” – The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food

“If we’re not investing in the long-term quality of our current affordable housing stock and these units fall into disrepair, the historic investments we’re making in creating new affordable housing units is negated. With a five-year capital plan of $21 million for repairs and renovations to our provincially owned housing units, our provincial housing strategy recognizes this important balance. It sets out priority actions to achieve both. I look forward to continuing to work with all levels of government and community partners to provide affordable, safe, accessible and efficient housing in our communities.” – The Honourable Rob Lantz, PEI Minister of Housing, Land and Communities

Quick facts:

• The federal funding announced today is helping repair 542 homes.
• The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to help build new affordable homes and renovate and repair existing, affordable and community housing.
• Through the 2023 Fall Economic Statement, the government announced an additional $1 billion for the Affordable Housing Fund, bringing the total funding to over $14 billion. To further support non-profit, co-operative, and public housing providers and respond to the needs of those most impacted by the housing crisis, Budget 2024 committed an additional $1 billion to the fund.
• This program under the National Housing Strategy (NHS) gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous peoples, people living with disabilities, those with mental health or addiction issues, veterans, and young adults.
• As of March 2024, the federal government has committed $50.97 billion through the NHS to support the creation of over 146,000 units and the repair of over 286,000 units.
• To support the Government’s work to grow housing supply and address the need for more affordable and rental homes, CMHC is implementing the Frequent Builder framework.
• The Frequent Builder framework will help expedite applications for the Affordable Housing Fund and the Apartment Construction Loan Program. The Frequent Builder status is given to existing housing providers with a proven track record of building multi-residential units. Different criteria apply to Governments, non-profit and for-profit organizations to qualify for Frequent Builder status.
• Frequent Builders may receive benefits such as priority treatment, a streamlined process through intake, underwriting and approval stages, underwriting and advancing flexibilities, as well as the possibility of funding commitments for future years which will allow funding predictability and better planning for their pipeline of projects.

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Additional Information:

• Visit Canada.ca/housing for the most requested Government of Canada housing information.
• CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.

Appendix: Projects receiving funding under AHF

CONTACT: Contacts : Micaal Ahmed, Office of the Minister of Housing, Infrastructure and Communities, micaal.ahmed@infc.gc.ca; Media Relations: Canada Mortgage and Housing Corporation, media@cmhc-schl.gc.ca