Government of Canada Announces $118.2 Million Investment through the Federal Community Housing Initiative
The Canadian Housing and Renewal Association (CHRA) consistently advocates for federal policies and programs to support the financial sustainability of Canada’s affordable housing sector. This includes rental subsidies to ensure that affordable housing providers can continue to offer housing at below market rates to those in need.
Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) announced an additional investment of $118.2 million through the Federal Community Housing Initiative (FCHI).
A National Housing Strategy Program, FCHI was created to offer housing providers with federally held operating agreements that expired between April 1, 2016, and March 31, 2028, with an extension of rental subsidies until March 31, 2028. Today’s announcement extends FCHI eligibility to housing providers whose federal operating agreements expired prior to April 1, 2016. This extension of eligibility will support an estimated 18,000 homes, and allow a greater number of housing providers to offer housing at below-market rates, rescuing more of our vulnerable neighbours from housing precarity and homelessness over the next six years.
Via Newswire: "Enrolment packages will be sent to housing providers that are deemed eligible in the coming weeks. To find out more about the Eligibility and Enrollment process, visit https://www.cmhc-schl.gc.ca/en/professionals/project-funding-and-mortgage-financing/funding-programs/all-funding-programs/federal-community-housing-initiative".
Although CHRA supports today’s announcement with great enthusiasm, we are reminded that FCHI is set to expire in March 2028. Canada’s affordable housing providers, and the individuals they house require long-term support to ensure that rents can be maintained at an affordable level beyond 2028.
CHRA will continue to advocate for permanent rental subsides to ensure the long-term resilience and vitality of Canada’s affordable housing sector.