Federal government helping build and repair 56,060 affordable homes across Ontario

Scarborough, Ontario, June 14, 2024

Today, the federal government announced over $1.1 billion to build and repair 56,060 affordable homes through 190 projects in Ontario. The funding is coming as low-interest and forgivable loans through the Affordable Housing Fund (AHF). The Fund provides funding to partner organizations to help build and repair affordable homes across the country.

The announcement was made by the Honourable Arif Virani, Minister of Justice and Member of Parliament for Parkdale—High Park, and the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario, and Member of Parliament for Hamilton West—Ancaster—Dundas on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities at the 1236 Birchmount Road, which has previously received funding through AHF.

Through investments like this, the federal government is working to end the housing crisis, so that everyone has a safe and affordable place to call home today – and so future generations have the same opportunity to rent or own a place of their own as generations that came before them.

Quotes:

“Everyone deserves a place to call their own and the Affordable Housing Fund is one way we’re helping make that a reality for Canadians. We will keep investing in affordable homes and working with partners across the country to end the housing crisis once and for all.”
— The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

“Today’s funding will help increase the amount of affordable housing in Ontario, while protecting the housing supply for low- and modest-income families. The Affordable Housing Fund provides low-interest or forgivable loans and contributions for new and repaired affordable housing and gives priority funding for Indigenous and Black communities across Ontario.”
— The Honourable Arif Virani, Minister of Justice and Attorney General of Canada

“Unlocking attainable housing creates opportunities for growth in Toronto and across Canada. Safe and affordable housing will build a secure base that supports Canadians so they can achieve their goals—from raising healthy children to pursuing education, jobs, and other opportunities. Our government is facing this challenge head on, and we are creating real solutions for the affordable housing Canadians deserve.”
— The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario and Member of Parliament for Hamilton West—Ancaster—Dundas

Quick facts:

The Affordable Housing Fund is part of the Government of Canada’s National Housing Strategy (NHS), an $82+ billion plan to give more Canadians a place to call home. 
Budget 2024 provided the Affordable Housing Fund with an additional $1 billion, bringing the total to $15 billion. As of March 2024, the federal government has committed over $8.56 billion to support the creation of over 34,000 units and the repair of over 164,000 units through the AHF.
As of March 2024, the federal government has committed $50.97 billion to support the creation of over 146,000 units and the repair of over 286,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.

Additional information:

Visit canada.ca/housing for the most requested Government of Canada housing information. 
As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook. 
Progress on programs and initiatives are updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.