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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 $58.8M to Fast-Track New Markham Homes

The federal government has provided a $58.8-million investment designed to fast-track housing development in Markham, Ont.

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

Plans call for the investment to support the development of 1,640 housing units over the next three years. The work will spur the construction of 6,630 new homes in the Greater Toronto Area city over the next decade, according to a federal government news release.

The investment is being provided under an agreement between the federal government and the City of Markham. The money will come from the federal Housing Accelerator Fund, which is administered by Canada Mortgage and Housing Corporation.

By working with our federal and provincial partners, the home-building industry and the trades sector, we aim to increase the housing supply in a timely and streamlined manner to meet the needs of our community,” said Markham Mayor Frank Scarpitti.

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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