The National Housing Co-Investment Fund, administered by the Canada Mortgage and Housing Corp., provides a mix of loans and forgivable debt to those building affordable housing and multi-use projects.
“The investment fund is still heavily skewed in its funding to Ontario. Ontario is the only province that's really getting finalized agreements in large amounts and the rest of the country is still lagging far behind.” Ahmed Hussen, the minister of families, children and social development, was not available for an interview, but department spokeswoman Jessica Eritou said the government has made the largest housing investment in Canadian history for rental and community housing.
“The information failed to tell the story of the dozens of B.C. applications under the National Housing Co-Investment Fund being assessed, along with additional applications under other programs with applications nearing completion, or with loan agreements or memorandums of understanding in place,” she said.
That funding is equivalent to just over a quarter of the strategy's total available funds to date, she said. “I think the investment being made here in B.C. is still pretty inadequate to make a dent in the demand for affordable housing,” she said in an interview. “We continue to want to see this program restructured so we can deploy those investments much more quickly and forcefully here in B.C.”
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