Local and federal politicians were in Hamilton on Tuesday to announce an investment of more than $97 million in contributions and low-cost loans through the Canadian government’s Affordable Housing Fund.
The money will help to build 270 new homes and repair over 8,300 homes in the Hamilton, Halton and Niagara regions.
The announcement took place at 106 Bay St. North at a building site that was previously a parking lot. The project, operated by CityHousing Hamilton, will receive $5 million to build 55 new homes and will consist of both single and family units mainly dedicated for women and their children.
Construction is underway and is expected to be completed by the end of this year.
Federal Housing Minister Sean Fraser was at the announcement and acknowledged that Canadians “are living through a housing crisis.”
“We can solve the housing crisis, but it is going to take cooperation across levels of government and [to] work very closely with community partners, whether that’s non-profits, whether that’s private builders, whether that’s housing advocates, to make sure that we’re advancing the policies necessary to ensure that every Canadian has a roof over their head.”
Fraser added that “we’re dealing today with a direct and predictable consequence of policy decisions that were taken decades ago.”
READ MORE: City council approves process to speed up affordable housing developments
Also in attendance was Chad Collins, Member of Parliament for Hamilton East – Stoney Creek, and Lisa Hepfner, Member of Parliament for Hamilton Mountain and Parliamentary Secretary to the Minister for Women and Gender Equality.
Collins spoke about the stress that local municipalities and cities have faced in the housing crisis and said that the “Affordable Housing Fund goes a long way to assist with the renovation and repair issue that municipalities have been struggling with.”
The Affordable Housing Fund provides money through low-interest and forgivable loans or contributions to help build new affordable homes and renovate and repair existing affordable and community housing.
READ MORE: Mayor Horwath on affordable housing projects in Hamilton