The federal government has announced more than $11 million in funding for affordable housing in Halifax Regional Municipality, which will help create at least 36 new units.
The money is part of the third round of the Rapid Housing Initiative’s city stream. The initiative, part of the National Housing Strategy, provides funding to rapidly construct new housing or acquire existing buildings to use for affordable housing.
Under the Rapid Housing Initiative, households pay less than 30 per cent of their gross income on housing costs and affordability must be maintained for a minimum of 20 years.
Halifax is one of 41 recipients for the third stream of funding and the federal government has invested around $4 billion in the program so far across the country.
“Everyone deserves a safe and affordable place to call home,” said Ahmed Hussen, federal minister of Housing and Diversity and Inclusion, in a release.
“Through the Rapid Housing Initiative, we are quickly providing new affordable housing units for people who need them most, right across Canada, including right here in Halifax.”
Halifax Mayor Mike Savage said programs like the Rapid Housing Initiative allow cities to “play a vital role in planning and building communities for all.”
“The RHI program is testament to what can happen when all orders of government and social agencies join in common purpose to build much-needed affordable homes and address the housing crisis,” he said.
Canada Mortgage and Housing Corp. said last month that more than 175 permanently affordable housing units were created through the Rapid Housing Initiative across the province during the program’s first two streams, with the city of Halifax receiving more than $21.6 million.
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