KITCHENER, ON, Aug. 1, 2024 /CNW/ - Today, the federal government announced more than $96 million in contributions and low-cost loans through the Affordable Housing Fund (AHF) to help build and repair 7,685 affordable homes in Kitchener, Waterloo, and Cambridge.

The announcement was made by the Honourable Jenna Sudds, Minister of Families, Children and Social Development and Member of Parliament for Kanata—Carleton, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, alongside Valerie Bradford, Member of Parliament for Kitchener South—Hespeler, Bardish Chagger, Member of Parliament for Waterloo, Tim Louis, Member of Parliament for Kitchener—Conestoga, Bryan May, Member of Parliament for Cambridge, Berry Vrbanovic, Mayor of Kitchener, and Colleen James, Regional Councillor, Chair, Sustainability, Infrastructure & Development, Region of Waterloo.

It took place at 82 Wilson Avenue, Kitchener, an affordable housing project that received $2.4 million to build 48 homes and will be operated by the Regional Municipality of Waterloo. The building is energy efficient and universally designed, offering units to low-income households from the Region`s social housing waitlist.

A detailed list of projects that received funding is provided in an appendix to this release.

Quotes:

"Everyone deserves a place to call their own and the Affordable Housing Fund is one way we're helping make that a reality for Canadians. We will keep investing in affordable housing projects like the ones announced today, and working with partners across the country, to end the housing crisis." – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"Communities across the country, including right here in Kitchener, need access to more affordable housing so that families have somewhere to put down roots and grow. The City of Kitchener has done great work in achieving its housing targets, and we will keep supporting projects in this region the which will build on that success so everyone has a safe and affordable place to call home." – The Honourable Jenna Sudds, Minister of Families, Children and Social Development

"I am very pleased to have been part of today's announcement, which will help ensure more than 7,600 families have an affordable place to call home. These kinds of investments are critical to building a vibrant local community, and we will continue to work to ensure every generation has a fair chance to own a home." – Valerie Bradford, Member of Parliament for Kitchener South—Hespeler

"This is a great example of how we can work across different orders of government so that people in Kitchener and across Waterloo Region can have access to stable, secure and affordable housing. The City of Kitchener is proud to partner with the Federal government and Region of Waterloo to support these and other affordable housing projects with more than $2 million in waived fees and development charges that is helping to make a real difference for the people who call Kitchener home." – Berry Vrbanovic, Mayor of Kitchener

"As our community continues to grow, access to affordable housing is one of the most pressing issues we are facing in Waterloo Region today. With the generous support of our federal partners, we are building more affordable homes, faster. I am thrilled that the 48 units at 82 Wilson Avenue will provide a range of affordable homes for seniors in our community." – Regional Chair of the Waterloo Region, Karen Redman

Quick facts:

• The federal funding announced today is helping create a total of 336 new homes and is leading to the repairs of 7,349 homes.
• The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to help build new affordable homes and renovate and repair existing, affordable and community housing.
• Through the 2023 Fall Economic Statement, the government announced an additional $1 billion for the Affordable Housing Fund, bringing the total funding to over $14 billion. To further support non-profit, co-operative, and public housing providers and respond to the needs of those most impacted by the housing crisis, Budget 2024 committed an additional $1 billion to the fund.
• This program under the National Housing Strategy (NHS) gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous peoples, people living with disabilities, those with mental health or addiction issues, veterans, and young adults.
• As of March 2024, the federal government has committed $50.97 billion through the NHS to support the creation of over 146,000 units and the repair of over 286,000 units.
• To support the Government's work to grow housing supply and address the need for more affordable and rental homes, CMHC is implementing the Frequent Builder framework.
• The Frequent Builder framework will help expedite applications for the Affordable Housing Fund and the Apartment Construction Loan Program. The Frequent Builder status is given to existing housing providers with a proven track record of building multi-residential units. Different criteria apply to Governments, non-profit and for-profit organizations to qualify for Frequent Builder status.
• Frequent Builders may receive benefits such as priority treatment, a streamlined process through intake, underwriting and approval stages, underwriting and advancing flexibilities, as well as the possibility of funding commitments for future years which will allow funding predictability and better planning for their pipeline of projects.

Additional Information:

• Visit Canada.ca/housing for the most requested Government of Canada housing information.
• CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.

Appendix: Projects receiving funding under AHF

SOURCE Government of Canada