The federal government is providing more than $32 million to Habitat for Humanity Canada to support hundreds of affordable housing projects over the next three years.
On Tuesday morning, Peterborough-Kawartha MP Maryam Monsef announced in Peterborough that the federal government would be giving $32.4 million to Habitat for Humanity Canada and its affiliate organizations.
Habitat for Humanity’s 2019-21 goal is to build 405 new homes and repair or renew 105 units, all of which support lower-income families.
The funding is from the National Housing Co-Investment Fund (NHCF).
“Our government is dedicated to helping those in need, which is why we are proud to be investing in Habitat for Humanity Canada,” said Monsef, who is minister of international development and minister for women and gender equality.
“Through their efforts, hundreds of families across Canada will realize the dream of homeownership. By investing in this project, we are one step closer to our government’s ambitious goal of creating 125,000 new housing units and lifting 530,000 families out of housing need as part of the National Housing Strategy.”
Last week, Habitat for Humanity Peterborough and Kawartha Region announced they were building a 41-unit condo on Leahy’s Lane in Peterborough’s northeast end. Construction is scheduled to start this fall with a completion date sometime next year. The project is the local branch’s largest multi-residential build and aims to be a model for other builds across the country.
Monsef noted that the Peterborough project will receive $3,183,250 to help fund 35 new homes in the unit.
Habitat for Humanity Canada’s model promotes an “affordable homeownership” that bridges the gap for people who face barriers to homeownership and would not otherwise qualify for a traditional mortgage.
“We are extremely grateful for this partnership with the government of Canada and CMHC as this investment will create significant opportunities for Habitat to scale and grow our program in communities across Canada,” said Mark Rodgers, president and CEO of Habitat for Humanity Canada.
“Collaboration is key to this success, and we will need the support of volunteers, donors, corporations and the community. This funding will help empower families to overcome the barriers to affordable homeownership and help them build healthier, more financially stable lives. We know that the outcomes of our program are long-lasting and life-changing, and now, thanks to this investment from the government of Canada, we can help even more Canadians in need of affordable housing than ever before.”
Sarah Burke, CEO for Habitat for Humanity Peterborough and Kawartha Region, echoed Rodgers’ thanks for governmental support of the Habitat project. All units will be geared for a mixture of annual incomes, from approximately $20,000 to $ 50,000, depending on family size.
This will allow Habitat to provide affordable housing for a wider variety of families and individuals, including seniors, Burke said.
“We are entering into this innovative development with great enthusiasm and hope for the future of affordable homeownership in our community,” she said. “Thanks to the support of the government of Canada and CMHC, this project will transform the lives of 41 households in Peterborough, building strength, stability and self-reliance.”
Peterborough Mayor Diane Therrien says the demand for housing in the city is “extremely high” and that the Leahy’s Lane project will help.
“Habitat Peterborough does great work, and this innovative project will have an enormous positive impact for our community,” she said.
Monsef says the city and county need to build 2,000 affordable housing units.
“We can do it in the next two years by working together,” said Monsef, who made the announcement on behalf of Jean-Yves Duclos, minister of families, children and social development and minister of CMHC.
“We have the expertise of leaders like the Habitat team and, when we put forward applications to the National Housing Strategy, we succeed. Congratulations to Habitat and all the very best to the families and individuals who will soon have a place to call home.”
WATCH: Challenges to building 2,000 new affordable units in Peterborough
© 2019 Global News, a division of Corus Entertainment Inc.