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Federal government funds more affordable housing in Toronto

Federal government funds more affordable housing in Toronto

TORONTO — A $132.2 million investment will create at least 233 new affordable homes in Toronto for individuals who are in uncertain housing situations, those experiencing homelessness or living in temporary shelters because of the pandemic.

The funding will be provided through the Government of Canada’s Cities Stream under the expanded Rapid Housing Initiative (RHI). This is in addition to the federal government’s previous investment of $238 million through the first phase of the RHI to support the creation of 661 new supportive homes in the city.

Following the first round of funding of $1 billion announced in October 2020, an additional $1.5 billion for the RHI was recently announced to create 4,500 new units of permanent affordable housing across the country, indicates a release, adding the initiative is now expected to create over 9,200 affordable homes.

“We have seen how COVID-19 has worsened existing housing and homelessness challenges and without urgent action by the Government of Canada, the pandemic could lead to a dramatic increase in homelessness. Creating housing rapidly to address this housing crisis is a priority for our government,” said Jean Yip, MP for Scarborough-Agincourt, in a statement. “This new funding is part of our commitment to addressing severe housing needs across the country. It will provide immediate support to create safe and stable housing to thousands of vulnerable individuals and families.”

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