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Ontario  + Canada  + Apartments  | 
The federal and provincial governments have agreed to fund five new affordable and social housing development projects in Quebec City.

Feds Invest $176.3M in 4,400 New Ottawa Homes

The federal government has provided a $176.3-million investment designed to fast-track the development of 4,400 new homes in Ottawa over the next three years.

Many of the homes are expected to be multi-family rental units.

The investment is being provided under an agreement with the City of Ottawa as part of the federal Housing Accelerator Fund. HAF is administered by Canada Mortgage and Housing Corporation.

Plans call for the investment to support the development of 32,600 residential units over the next decade, the federal government said in a news release.

“With this investment of $176.3 million, the Housing Accelerator Fund will help thousands of families in Ottawa who are desperately looking for an affordable place to call home,” said Families, Children and Social Development Minister Jenna Sudds.

As part of the agreement, the local government will introduce a bylaw permitting four residential units as of right city-wide.

Photo: fotografiko eugen / Shutterstock.com

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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