{"id":13636,"date":"2023-02-28T06:12:58","date_gmt":"2023-02-28T14:12:58","guid":{"rendered":"https:\/\/essential.construction\/news\/canada-announces-rapid-housing-funding-for-edmonton\/"},"modified":"2023-02-28T06:12:59","modified_gmt":"2023-02-28T14:12:59","slug":"canada-announces-rapid-housing-funding-for-edmonton","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/canada-announces-rapid-housing-funding-for-edmonton\/","title":{"rendered":"Canada announces Rapid Housing Funding for Edmonton"},"content":{"rendered":"

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The City of Edmonton is receiving $12.5 million in funding for the construction of new housing.<\/p>\n

The city is one of the 41 recipients of the third round of the Rapid Housing Initiative\u2019s (RHI) city stream. This investment is set to help create at least 57 new units in Edmonton.<\/p>\n

\u201cThe $12.5 million Edmonton receives this year will help build on\u2026momentum as we re-establish affordable housing as critical public infrastructure,\u201d Edmonton Mayor Amarjeet Sohi said. \u201cBy closing the housing gap and offering the inclusive supports people need to stay housed, it is possible to meaningfully address housing insecurity.\u201d<\/p>\n

Launched in 2020, RHI is delivered by the Canada Mortgage and Housing Corporation, under the federal government\u2019s National Housing Strategy. The federal government\u2019s overall investment in RHI so far is $4 billion, which is expected to create at least 4,500 more affordable housing units in Canada.<\/p>\n

RHI provides\u00a0funding to\u00a0facilitate\u00a0the rapid construction of\u00a0new\u00a0housing\u00a0and the acquisition\u00a0of existing buildings\u00a0for\u00a0the purpose of\u00a0rehabilitation or\u00a0conversion\u00a0to permanent affordable housing units. 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.<\/p>\n<\/p><\/div>\n