The municipal and federal governments are teaming up to help fund new home construction in Winnipeg.
Mayor Scott Gillingham and MP Terry Duguid announced a second round of funding Monday, via the Housing Accelerator Fund Capital Grant Program.
A total of $58.5 million across two housing programs is expected to support building 2,500 new homes in the city. Of that, $25 million in capital grants will be allotted to 12 housing projects, and $33.5 million in tax increment financing will go to 16 projects through the city’s Affordable Housing Now program.
The city says total related construction costs are expected to be over $1.6 billion.
“It’s wonderful to see the impact the Housing Accelerator Fund is having across Winnipeg,” said Duguid, Minister of Sport and PrairiesCan and the MP for Winnipeg South.
“Projects like these will help young people find affordable homes and create vibrant, inclusive communities where all families, especially the next generation, can thrive and build their future.”
Gillingham said the funding will create jobs and drive economic growth for the city.