CANADA INVESTS OVER $9M IN RAPID HOUSING FUNDING FOR RICHMOND

RICHMOND, BC, June 2, 2023 /CNW/ - Today, Wilson Miao, Member of Parliament for Richmond Centre on behalf of the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, Parm Bains, Member of Parliament for Steveston-Richmond East, and Malcolm Brodie, Mayor for the City of Richmond announced the details of the $9.1 million in funding for Richmond, one of the 41 recipients of the third round of the Rapid Housing Initiative's (RHI) city stream.

As part of its investment plan for the Cities Stream, the City of Richmond has partnered with BC Housing and Turning Point Housing Society on a new, 25-unit affordable rental housing development for residents in need of safe and secure housing.

This is made possible by the Government of Canada's additional investment of $1.5 billion through RHI, bringing the program's total to $4 billion to support the country's most vulnerable. The additional funding for the third round of RHI will be divided into two streams: $1 billion through the Projects Stream and $500 million towards the Cities Stream. This investment is expected to create at least 4,500 more affordable housing units for Canadians in severe housing need across the country, with 25% of investments going towards women-focused housing projects.

"Everyone deserves a safe and affordable place to call home. Through the Rapid Housing Initiative, we are quickly providing new affordable housing units for people who need them most, right across Canada, including right here in Richmond. By working closely with our partners to create more affordable housing, the Government of Canada is improving the quality of life for Canadians, particularly our most vulnerable. This is one of the many ways our National Housing Strategy continues to ensure no one is left behind." –  The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"The Government of Canada is dedicated to helping those in need, which is why we are proud to have invested in the Rapid Housing Initiative here in Richmond. These new units are more than just safe and affordable places to live, they are key to a better life for the residents who will call Richmond their home." –  Wilson Miao, Member of Parliament for Richmond Centre  

"This investment will continue to help Canadians access safe and affordable housing that meets their needs, while also creating jobs for the local economy, here in Richmond. The Government of Canada remains committed to working with our partners to develop and implement solutions to housing both in Richmond and across Canada."' – Parm Bains, Member of Parliament for Steveston-Richmond East  

"This development of affordable rental housing is a top priority for the City of Richmond and a part of our Affordable Housing and Homelessness strategies. This project is another example of how all levels of government are working together to provide much needed affordable housing in an expedited manner.  Richmond City Council will continue our collaboration with senior levels of government and other partners to find further opportunities for affordable housing options across Richmond." — Malcolm Brodie, Mayor of Richmond

• The Government of Canada's National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest more than $82+ billion to give more Canadians a place to call home.
• Launched in 2020, the Rapid Housing Initiative (RHI) is delivered by the Canada Mortgage and Housing Corporation (CMHC), under the NHS.
• The first two rounds of the RHI exceeded expectations and are expected to create more than 10,000 units instead of the 7,500 initially planned. This includes more than 3,300 units to support women and more than 4,200 units to support Indigenous Peoples.
• The RHI takes a human rights-based approach to housing, serving people experiencing or at risk of homelessness and other vulnerable people under the NHS, 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.

• To find out more, visit RHI3 and eligibility criteria.
• As Canada's authority on housing, 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, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, visit: www.placetocallhome.ca
• Check out the National Housing Strategy Housing Funding Initiatives Map to see affordable housing projects that have been developed across Canada.

SOURCE Government of Canada