The Solutions: A new Canada-Ontario affordable housing agreement

A new agreement between the governments of Ontario and Canada will result in a significant investment in affordable housing. Each level of government will provide approximately $300 million; with additional contributions from municipal governments, the total investment in affordable housing over the life of the program is expected to climb to more than $700 million. The investments will provide:

•  Approximately 15,000 new affordable housing units, including housing for victims of domestic violence, for persons suffering from mental illness and for those in northern and remote communities.

•  Approximately 5,000 housing allowances for lower-income families to access vacant rental units.

•  A home ownership fund to provide capital subsidies to developers of housing for low to moderate income families.

•  The creation of the Ontario Mortgage and Housing Partnership to assist developers of affordable housing with low-cost, long-term financing for new rental and supportive housing units.