The Government of Canada is partnering with the City of Ottawa and the Ottawa Community Housing Corporation (OCH) to upgrade and extend the lifespan of the over 11,000 units, of which “22,000 tenants will be positively impacted.”
Announced today, this $165.6 million financial commitment over 9-years, which $65.4 million is a forgivable loan, will go towards repairs and help “improving tenant health, safety, comfort, and overall quality of life.”
The federal funding is being delivered through CMHC’s National Housing Co-Investment Fund (NHCF), which supports new and revitalization construction of mixed-income, mixed-tenure, and mixed-use affordable housing. The NHCF is a key pillar of the Government of Canada’s National Housing Strategy (NHS).
“The City of Ottawa works with Ottawa Community Housing and other local partners to develop and maintain safe and affordable housing for vulnerable populations in Ottawa. This significant financial commitment from the federal government will provide upgrades that improve tenant health, safety, comfort, and overall quality of life. This is another important step in our strategy to ensure access to affordable housing in Ottawa and our commitment to meet the most pressing housing needs of our residents,” said Jim Watson, Mayor of the City of Ottawa.
“Today’s announcement is not only about ensuring Ottawans have a roof over their heads. These types of projects in our communities help create new jobs and stimulate the economy, while providing access to safe, affordable homes, and improving the quality of life of Canadians,” said Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC).