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Nov 15th - Dream Lebreton News Article (Today)

[InvestSmarter]

https://www.cmhc-schl.gc.ca/media-newsroom/news-releases/2024/656-home-being-built-repaired-ottawa

The federal government is providing over $322 million to help build 616 new homes and repair 40 existing ones in Ottawa.

The announcement was made by the Honourable Jenna Sudds — Minister of Families, Children and Social Development and Member of Parliament for Kanata – Carleton and Yasir Naqvi, Parliamentary Secretary to the Minister of Health and Member of Parliament for Ottawa Centre.

The announcement took place at Odenak, a project being built on public land at 665 Albert Street. The project is a partnership between the federal government, the City of Ottawa, Dream Unlimited Corp, Dream Impact Trust, and Multifaith Housing Initiative. The project is building 608 new rental homes, 251 of which will be affordable and dedicated to Indigenous Peoples, Veterans, newcomers, adults with cognitive disabilities, and women and children. At least 31% of the units will be accessible, and the amenities and common areas will be barrier-free.

Funding for this project includes:

• $233 million in fully repayable, low interest loans from the federal government's Apartment Construction Loan Program (ACLP).
• $27.7 million in forgivable loans and $21.6 million in repayable loans) from the federal government's Affordable Housing Fund (AHF).
• $27.5 million under the Federal Lands Initiative (FLI).

Quotes:

 

"Everyone deserves a place to call their own, and programs like the Affordable Housing Fund, the Apartment Construction Loan Program, the Rapid Housing Initiative, and the Federal Lands Initiative are a few ways we're helping make that a reality for Canadians. We will keep investing in housing projects like the ones announced today in Ottawa, and working with partners across the country, to end the housing crisis."

— The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"To solve the housing crisis, we need all partners to work together and maximize the use of existing federal programs and available land. The Dream LeBreton project shows us what's possible when we do just that. By building and repairing over 600 homes, we're helping more people in our community find a place to call home at prices they can afford."

— The Honourable Jenna Sudds, Minister of Families, Children and Social Development

"The Dream LeBreton project is a great example of how we need to build more housing in Ottawa. It is leveraging federally-owned land in the centre of city, using partnership between Dream and Multifaith Housing Initiative to build sustainable and affordable homes. This is good for families and our community."

— Yasir Naqvi, Parliamentary Secretary to the Minister of Health and Member of Parliament for Ottawa Centre

 

Quick facts:

• The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives is updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.
  • As of September 2024, the federal government has committed $57.57 billion to support the creation of over 156,000 units and the repair of over 297,000 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.
• The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partner organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This is a $14.6 billion program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous Peoples, people living with disabilities, those with mental health or addiction issues, Veterans, and young adults.
  • As of September 2024, the Government of Canada has committed $10.34 billion to support the creation of over 40,000 units and the repair of over 166,000 units through the Affordable Housing Fund.
  • Budget 2024 announced enhancements to the AHF which includes the program being extended from 2025 – 26 to 2028 – 2029. The existing New Construction Stream is now divided into two dedicated sub-streams: a Rapid Housing Sub-Stream for the creation of shelters, supportive and transitional housing for those in greatest need, and a dedicated Community Housing Sub-Stream to support affordable and mixed-market housing where there are both affordable and market rent units in a project.  The Repair and Renewal Stream has replaced minimum requirements with an approach where projects supporting accessibility and energy efficiency will be prioritizedApplications including these enhancements will open on November 22.
• The $55 billion Apartment Loan Construction Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031 – 32.
  • The ACLP provides fully repayable low-interest loans to encourage the construction of more rentals for middle class Canadians. It creates a positive impact to the housing system at minimal cost to taxpayers.
  • A stable supply of purpose-built rental housing is essential for more people in Canada to have access to housing that meets their needs.
  • As of September 2024, CMHC has committed $20.65 billion in loans through ACLP to support the creation of more than 53,000 purpose-built rental homes.
  • It is one of many programs and initiatives under the National Housing Strategy designed to help address housing needs across the housing continuum.
  • It complements other NHS initiatives that focus on funding affordable housing units for lower-income households.
  • Budget 2024 announced enhancements to the ACLP which includes the program being extended from 2027 – 28 to 2031 – 2032. The enhancements will allow applicants to apply for funding for on- and off-campus student housing to support post-secondary educational institutions as well as independent seniors housing. There are no longer minimum requirements relating to energy efficiency and accessibility, applicants will benefit from making stronger commitments to desired rental supply and social outcomes.  The applications including these enhancements will open on November 22.
• The Rapid Housing Initiative (RHI) is delivered through the Canada Mortgage and Housing Corporation (CMHC) under the NHS. It provides funding to facilitate the rapid construction of new housing and the acquisition of existing buildings for the purpose of rehabilitation or conversion to permanent affordable housing units. With its third phase, launched in 2022, the Rapid Housing Initiative once again exceeded targets. It is expected that with this phase over 5,200 new homes will be created, of which almost half will be for women and one third will be for Indigenous Peoples. The total number of units created with the support of Rapid Housing Initiative is expected to be over 16,000 units. The program is now closed.
  • The RHI takes a human rights-based approach to housing, serving people experiencing or at risk of homelessness and other vulnerable people, including women and children fleeing domestic violence, seniors, young adults, Indigenous Peoples, people with disabilities, people experiencing mental health and addiction issues, Veterans, 2SLGBTQI+ individuals, racialized groups, and recent immigrants or refugees.
• The Federal Lands Initiative (FLI) is an over $318 million fund that supports the transfer of surplus federal lands and buildings to be used as affordable housing. The FLI is a National Housing Strategy initiative delivered by Canada Mortgage and Housing Corporation (CMHC), Housing, Infrastructure and Communities Canada (HICC), Public Service and Procurement Canada (PSPC), and Canada Lands Company (CLC). 

 

 

Additional Information:

• Visit Canada.ca/housing for the most requested Government of Canada housing information.
• 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, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.

 

 

For information on this news release contact:

Sofia Ouslis
Office of the Minister of Housing, Infrastructure and Communities
[e-mail]

Media Relations
Canada Mortgage and Housing Corporation
[e-mail]

Appendix: Projects receiving funding  

Project Name	Program	Region/City	Funding	New units	Type
Total:			$322,224,147	656 units
Odenak ( Dream LeBreton)	Affordable Housing Fund (AHF), Apartment Construction Loan Program (ACLP) Federal Land Initiative (FLI)	Ottawa, Ontario	$310,067,097	608 units	New units
Shepherds of Good Hope - Murray Street	Rapid Housing Initiative (RHI)	Ottawa, Ontario	$10,856,622	40 units	Repaired units
Shepherds of Good Hope - Hope Living	Rapid Housing Initiative (RHI)	Ottawa, Ontario	$1,300,428	8 units	New units