Close X
    Sunday, September 22, 2024
    ADVT 
    National

    $115 M funding deal could help build 40,000 homes in Vancouver over decade: Trudeau

    Darpan News Desk The Canadian Press, 15 Dec, 2023 02:27 PM
    • $115 M funding deal could help build 40,000 homes in Vancouver over decade: Trudeau

    Prime Minister Justin Trudeau has announced a $115 million federal funding deal with the City of Vancouver that he said could see more than 40,000 new homes built over the next decade.

    Trudeau said the deal would fast-track more than 3,200 new homes over the next three years.

    The announcement came on Friday after the Canada Mortgage and Housing Corp. said housing starts in Canada fell 22 per cent in November, with starts down 39 per cent in Vancouver.

    Fraser said of the Vancouver deal that the cash from the government's Housing Accelerator Fund would cut barriers to building homes and "incentivize changes" at the municipal level.

    Trudeau said the Vancouver deal would bring the total number of housing units "unlocked" by the accelerator fund to almost 300,000.

    "This is well over the initial 100,000 we'd hoped to unlock when we announced the accelerator fund back in 2022," Trudeau said at a construction site on Vancouver's Westside where rental units are being built with the help of low-interest loans from the CMHC.

    A news release from Trudeau's office said Vancouver would streamline rezoning and expand affordable rental programs, and the initiatives would "significantly improve the way housing is built" in the city.

    Sim said the deal was not a "symbolic gesture", but a collective commitment to providing more homes and finding solutions to housing challenges.

    He said he and his wife had bought a home 20 years ago in the neighbourhood where the announcement took place, and the homes that once stood on the construction site had accommodated about 30 people in six households.

    "We're gonna see hundreds of people that have homes (here) in the neighbourhood that our family loved," he said of the project, which the CMHC said involved 118 units.

    Sim called the new federal funding "incredibly generous."

    The Opposition Conservatives said in a news release that Trudeau's Liberal government was "failing to build anywhere near enough homes."

    The Conservatives pointed to the CMHC data, which said the monthly seasonally adjusted annual rate of housing starts in November came in at 212,624 units, down from 272,264 in October.

    "This massive decline in housing starts means the cost of rent or a mortgage will only go up for Canadians across the country," the statement said.

    Prev Next

    MORE National ARTICLES

    COVID19 infections back in the fall

    COVID19 infections back in the fall
    Public health officials say new COVID-19 infections are creeping back up just as the respiratory virus season in the fall and winter is set to get underway. Ottawa is sending a new COVID vaccine out to the provinces and territories, which are in charge of rolling it out to the public.

    COVID19 infections back in the fall

    Canada Post reviewing use of address data following criticism from privacy watchdog

    Canada Post reviewing use of address data following criticism from privacy watchdog
    Canada Post said Friday it is reviewing how it uses data for tailored marketing campaigns after the federal privacy watchdog found the post office was breaking the law by gleaning information from the outsides of envelopes and packages. The information is then used to help build marketing lists that Canada Post rents to businesses.  

    Canada Post reviewing use of address data following criticism from privacy watchdog

    Here's what Canada is pledging in multi-year support for Ukraine, updated trade deal

    Here's what Canada is pledging in multi-year support for Ukraine, updated trade deal
    The two countries have also signed a modernized trade deal as Ukrainian President Volodymyr Zelenskyy visits the country for the first time since Russia's full-scale assault of Ukraine began last year. The multi-year commitment includes $650 million over three years for 50 armoured vehicles that are to be built in London, Ont.

    Here's what Canada is pledging in multi-year support for Ukraine, updated trade deal

    Critical incident involving RCMP, B.C. Premier David Eby says

    Critical incident involving RCMP, B.C. Premier David Eby says
    British Columbia Premier David Eby says there's been a critical incident involving RCMP in the Metro Vancouver suburb of Coquitlam. A witness on the scene says she saw an officer with a bloody leg and a tourniquet above the wound. 

    Critical incident involving RCMP, B.C. Premier David Eby says

    White House rejects reports of tension with Canada over India interference allegation

    White House rejects reports of tension with Canada over India interference allegation
    The White House is pushing back against reports that Canada-U.S. relations are straining under Prime Minister Justin Trudeau's seismic allegation that the government of India was involved in the killing of a Canadian citizen.  National Security Adviser Jake Sullivan says the U.S. shares Canada's "deep concerns" and denies any suggestion of a wedge between the two countries.   

    White House rejects reports of tension with Canada over India interference allegation

    First days of autumn expected to be cool and damp over most of British Columbia

    First days of autumn expected to be cool and damp over most of British Columbia
    Much of British Columbia will welcome the first week of fall with wet, cool conditions after enduring a summer of drought. Autumn officially begins at 11:50 p.m. Pacific time on Friday and Environment Canada forecasts show clouds and showers are expected to sweep across the south coast within hours of the autumnal equinox.

    First days of autumn expected to be cool and damp over most of British Columbia

    PrevNext