Newmarket, ON – York Region is receiving over $23 million in additional new funding under the Canada-Ontario Investment in Affordable Housing Program to help build and repair affordable housing for families, individuals and seniors.
As part of this new agreement, the Governments of Canada and Ontario are investing over $168 million each in new funds to further assist municipal partners in providing better access to affordable housing across the province. This is in addition to the existing $801 million dollars already allocated to communities across Ontario.
York Region now has the flexibility to select how the funds will be distributed across the community based on local housing needs. Options include new rental construction, home repair, housing allowances, rent supplements or affordable home ownership.
The new investment complements the commitments made through Ontario’s recent Long-Term Affordable Housing Strategy update, and supports the province’s goal of ending chronic homelessness in 10 years.
"These additional funds for affordable housing here in Newmarket-Aurora, and across York Region and Ontario will help families acquire affordable and suitable homes. Adequate and suitable housing helps build a foundation for secure employment, raising a family and building strong communities.
-- Chris Ballard, M.P.P., Newmarket-Aurora
"I am pleased that the partnership between the Federal Government and the Government of Ontario, is stronger than ever, and has resulted in today’s announcement of an additional $23 million dollar investment in social and affordable housing throughout York Region. Our Government is serious about tackling housing and homelessness challenges here in Ontario and across the country – helping to create the kind of society we all want to live in."
--Kyle Peterson, M.P., Newmarket-Aurora
"York Region is a place people are proud to call home. Success in creating a diverse housing market for all residents depends on collective engagement and sustained investments from all stakeholders. Helping to provide a roof over the heads of individuals and families at an affordable price is a priority for Regional Council. I thank our senior funding partners at the provincial and federal level for their help in opening the door to more affordable housing in York Region."
--Wayne Emmerson, York Region Chairman and CEO
The new funding is part of a larger federal-provincial investment in social infrastructure spending that was announced earlier in June.
CMHC has been helping Canadians meet their housing needs for more than 70 years. For more information, please call 1-800-668-2642 or visit www.cmhc.ca
Ontario’s updated Long-Term Affordable Housing Strategy
Ontario’s Poverty Reduction Strategy
Canadians are invited to help shape the National Housing Strategy by joining the conversation on www.LetsTalkHousing.ca. Your ideas will help shape the future of housing in Canada.
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