On Aug. 30, Prime Minister Justin Trudeau and Minister of Housing and Diversity and Inclusion Ahmed Hussen announced the federal government was moving ahead with the
“Eligible applicants could include municipalities, private sector developers and builders, non-profit housing providers and community housing organizations, Indigenous governments and organizations, or any other proponent interested in developing and testing innovative approaches to affordable housing homeownership,” Arevig Afarian, press secretary of the minister for housing and diversity and inclusion said Wednesday.
“There are a lot of families who are able to bring capital every month but aren’t able to bring the lump-sum amount required to own a home,” Olowolafe said. “I think if there is a structure where they’re able to make payments that go towards the use of the property but also a percentage goes towards the down payment with a number that is fair as an end value, I think it becomes a win-win for both parties involved.