Department of Finance Canada said federal support helped fund 108 new affordable homes at the Royal Canadian Legion in Sault Ste. Marie.
This new nine-storey apartment building, with 30 per cent of homes under market rents, was made possible by $32.1 million in federal funding through the $14 billion Affordable Housing Fund.
The $14 billion Affordable Housing Fund provides low-interest or forgivable loans or contributions to organizations looking to build new affordable housing or renovate and repair the existing supply of affordable and community housing.
As of June 2024, over $9.40 billion from the Affordable Housing Fund has been committed to build over 37,000 homes and repair over 165,000 homes.
$72.9 million Services and Supports Stream to deliver rent supplements and well-being services, such as counselling and treatment for substance use.
Taxpayers and businesses will need the final legal text, effective dates, and CRA or departmental guidance before applying the measure.