Yesterday, the federal government and the GNWT together with the Canada Mortgage and Housing Corporation announced over $5.5 million will be used to repair 150 social housing units in the territory.
MP Minister Rebecca Alty emphasized that affordable housing is a “right” for everyone and said that the project will target “key areas” of the N.W.T.
“Every Canadian has a right to a safe, affordable home to call their own. That is why our government is collaborating with territorial governments to deliver good, quality homes to areas that need them most. This project will improve affordable homes for residents in key areas across the Territories. It’s also another step forward in building an economy that serves everyone.”
The funding is expected to help “extend the life of existing social housing units, ensuring they remain safe, functional, and livable for residents,” according to joint announcement issued by the GNWT, the federal government and the Canada Mortgage and Housing Corporation.
This is part of the federal government’s Build Canada Homes, a new agency that has been tasked to build affordable housing at scale, including transitional and supportive housing,.
The agency is working together with territorial leadership and other organizations including the Canada Mortgage and Housing Corporation and other private and non-profit sectors groups, to help bring down costs and build homes at “a scale and pace not seen in generations.”
Renée LeBlanc Proctor with the Office of the Minister of Housing and Infrastructure, explained that the funding is part of the Affordable Housing Fund.
LeBlanc said the funding comes from low-interest and/or forgivable loans or contributions to partnered organizations.
The budget is scheduled to be tabled next month and it is expected there will be more updates on housing projects at this time.
“We will build on this momentum with further measures to lower costs for builders, catalyse private capital, and double the pace of homebuilding across Canada,” said the GNWT, the federal government and the Canada Mortgage and Housing Corporation.
They added that the budget “will spend less on government operations and reduce waste” to allow for more economic growth and investment to build more homes.
True North FM reached out for more details about what the process of selection and housing repair will look like and will share that information when it becomes available.
