MISSISSAUGA, ONT. — The Region of Peel has received a $276.4 million allocation from the federal government to help create 2,240 new affordable housing units and shelter beds by 2028.
The funding was provided through the federal National Housing Co-Investment Fund.
In 2019, Peel Regional Council endorsed a total of $1 billion of funding to support development of new affording housing units on Region of Peel owned sites, stated an Aug. 7 release. To date, $672.8 million of funding has been secured for development: the new federal funds, $335.3 million in Regional funds, and $61.1 million in funds committed through other federal and provincial housing programs.
“On behalf of Peel Regional Council, we are thrilled to partner with the Government of Canada to build much-needed affordable housing in Peel,” said Region of Peel Chair Nando Iannicca in a statement. “The pandemic is reinforcing how critical affordable housing is to community well-being and resiliency. We look forward to continuing to work with both our federal and provincial partners to increase urgently needed housing investments in Peel.”