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Federal government pours $120 million into affordable housing in Brampton

Click to play video: 'Trudeau announces construction of affordable rental units in Brampton, Ont.' Trudeau announces construction of affordable rental units in Brampton, Ont.
WATCH ABOVE: Prime Minister Justin Trudeau announced on Monday the construction of 302 affordable rental units in Brampton, Ont. as many parts of the country struggle with providing affordable housing, which has become even more apparent during the COVID-19 pandemic, he said – Jul 19, 2021

BRAMPTON, Ont. — Prime Minister Justin Trudeau says the federal government is pouring nearly $120 million into affordable rental units in Brampton, Ont.

The money is set to be used to build a 26-storey building that has been described as being “multi-residential” and “energy-efficient.”

More than 300 families are expected to be able to live in these units.

Read more: Winnipeg to see 51 new affordable homes as part of federal program

The investment is part of the federal government’s plan to “build stronger communities, create jobs, and grow our middle class, while supporting vulnerable Canadians and helping end homelessness.”

The announcement is part of the Rental Construction Financing Initiative, which supports new rental housing builds across Canada.

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The initiative aims to provide low-cost, insured loans to developers and cities where more rental housing is needed.

Click to play video: 'Federal government announces $14.9M to build affordable housing units in Edmonton' Federal government announces $14.9M to build affordable housing units in Edmonton
Federal government announces $14.9M to build affordable housing units in Edmonton – Jul 6, 2021

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