Majority of affordable homes approved under federal program not yet constructed
OTTAWA — The federal government has set aside billions of dollars to quickly build affordable housing across the country, but delays in construction suggest many of the projects approved for funding are missing their deadlines.
The Rapid Housing Initiative is a federal program launched in 2020 that provides funding to cities and non-profit organizations to build affordable homes for vulnerable Canadians, including those experiencing homelessness.
The federal government offered $2.5 billion during the first two rounds of project funding, with the condition that approved units must be built within 12 months in most places or 18 months in northern or remote communities.
But a document put together by the Canada Mortgage and Housing Corp. in response to a written question from a member of Parliament shows the majority of units approved have not yet been constructed.
The first round of applications closed at the end of March 2021 and resulted in 4,792 units approved for funding, while a further 5,473 got the green light during the second round that closed a year later.
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