April 2019
Federal Government Investing in Toronto's Social Housing

2019-04-08 10:33:19 AM


Prime Minister Trudeau on Friday announced a federal investment of $1.3 billion to Toronto Community Housing (TCH) that will help fix 58,000 units over a 10 year period. Renovations are set to begin this spring. 

$810 million of the federal money will be given as a loan while $530 million will be a direct investment. In his announcement, Trudeau called this the largest federal investment with a municipal partner in the country’s history.

This investment is part of the $13.2 billion National Housing Co-Investment Fund that was launched in May 2018 and is a program that aims to create up to 60,000 new homes and repair some 240,000 existing units across Canada over the next 10 years. 

TCH is a City of Toronto public housing agency that is funded by Toronto and the Government of Ontario. Home to 110,000 people, TCH estimates there is a $1.6 billion repair backlog that is set to grow to around $3 billion over the next decade. The estimate for this year’s repairs alone is $313 million.

For more information, please see below: 

CBC News: Feds commit $1.3B to repair crumbling Toronto community housing units

Toronto Star: Ottawa pledges $1.3 billion for Toronto Community Housing repairs


 


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