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Vancouver mayor thrilled about federal housing investment, but former COPE candidate calls it “a drop in the bucket” –

by ahnationtalk on August 8, 201939 Views

August 7th, 2019

The federal government and the City of Vancouver have announced a quarter billion-dollar investment into housing in Canada’s third-largest city.

Ottawa will be investing up to $184 million into supporting 1,100 affordable housing units in Vancouver.

According to Leonard Catling, senior officer of media relations at the Canada Mortgage and Housing Corporation, over half of this money will come in the form of low-cost loans.

The National Housing Co-Investment Fund will provide $60.5 million in loans, as well as a direct contribution of $66 million. The Rental Construction Finance initiative will make available $53.5-million in loans, and the Affordable Housing Innovation Fund will directly contribute $3.82 million.

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