Rapid Housing Initiative Stream 1 funding announcement for Calgary
HomeSpace is proud to take part in this initiative to create more affordable housing to help meet the needs of our city, details via The City of Calgary's new release:
Every Canadian deserves a safe and affordable place to call home. The COVID-19 crisis has made it clear that affordable housing is key to Canada’s recovery as major cities across the country including Calgary are dealing with the devastating impacts of rising levels of homelessness and housing need.Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Naheed Nenshi, the Mayor of Calgary, announced details of the $24.6 million Rapid Housing Initiative allocation for Calgary.As part of its Investment Plan for the Major Cities Stream, Calgary submitted three projects that will build 176 new units of affordable housing:
- Silvera for Seniors to complete a hotel conversion into a seniors’ residence
- Horizon Housing for new modular homes for women and children fleeing domestic violence
- HomeSpace Society to provide new homes for Indigenous people as part of a rehabilitation of an old building
With the $1 billion RHI, the Government of Canada will support the construction of up to 3,000 permanent, new affordable housing units across Canada to help address urgent housing needs for Canadians, especially our most vulnerable.Delivered by CMHC, under the National Housing Strategy (NHS), RHI provides the necessary capital contributions to develop new, permanent affordable housing by covering costs associated with modular multi-unit rental construction; conversion of non-residential to affordable multi-residential; and, rehabilitation of buildings in disrepair and/or abandoned to affordable multi-residential. Acquisition of land and buildings would be covered under eligible costs.Quick facts:
- The $24.6M committed to Calgary was meant to create a minimum of 116 new affordable homes; we are delighted it will go further than that and result in 176 new homes. The projects will include a focus on seniors, indigenous peoples, and women and children fleeing domestic violence.
- This immediate funding is a great down payment on future affordable housing development in Calgary. Calgary’s COVID-19 Community Advocacy Plan identifies the need to support 600 Calgarians experiencing homelessness into safe and secure housing, and the potential to create or acquire 5,400 new homes over the next three years.
- Under the Major Cities Stream of funding, $500 million is allocated to pre-identified municipalities with the highest levels of renters in severe housing need and people experiencing homelessness. Municipalities can flow funds through a third-party (including a provincial or territorial government).
- Under the Projects Stream of funding, $500 million in application-based projects from provinces, territories, municipalities, Indigenous governing bodies and organizations, and non-profit organizations. Applications will be accepted until December 31, 2020.
- RHI takes a human rights-based approach to housing, serving people experiencing or at risk of homelessness and others who are among the most vulnerable, including: women and children fleeing domestic violence, seniors, young adults, Indigenous peoples, people with disabilities, people dealing with mental health and addiction issues, veterans, LGBTQ2+, racialized groups, Black Canadians, and recent immigrants or refugees.
- The National Housing Strategy is an ambitious 10-year, $55+ billion plan that is giving more Canadians across the country a place to call home, creating 125,000 new housing units and reducing housing need for 530,000 households, as well as repair and renew more than 300,000 housing units.
- The 2020 Fall Economic Statement proposes to increase the lending capacity of the existing National Housing Strategy’s Rental Construction Financing Initiative by an additional $12 billion over seven years. This new funding will enable CMHC to support the construction of an additional 28,500 purpose-built rental housing units across Canada.