By Canadian Contractor staff
Canada announces Rapid Housing Funding for EdmontonCanadian Contractor Resources
The city is receiving $12.5 million in funding for the construction of at least 57 nbew housing units.
The City of Edmonton is receiving $12.5 million in funding for the construction of new housing.
The city is one of the 41 recipients of the third round of the Rapid Housing Initiative’s (RHI) city stream. This investment is set to help create at least 57 new units in Edmonton.
“The $12.5 million Edmonton receives this year will help build on…momentum as we re-establish affordable housing as critical public infrastructure,” Edmonton Mayor Amarjeet Sohi said. “By closing the housing gap and offering the inclusive supports people need to stay housed, it is possible to meaningfully address housing insecurity.”
Launched in 2020, RHI is delivered by the Canada Mortgage and Housing Corporation, under the federal government’s National Housing Strategy. The federal government’s overall investment in RHI so far is $4 billion, which is expected to create at least 4,500 more affordable housing units in Canada.
RHI provides funding to facilitate the rapid construction of new housing and the acquisition of existing buildings for the purpose of rehabilitation or conversion to permanent affordable housing units. The additional funding for the third round of RHI will be divided into two streams: $1 billion through the Projects Stream and $500 million towards the Cities Stream.