OTTAWA — Prime Minister Justin Trudeau says a new $1.5-billion housing fund will help non-profit organizations acquire more rental units across Canada and make sure they remain affordable.
An existing rental protection fund in British Columbia is a good"proof of concept" for the initiative, Trudeau told a news conference in Winnipeg. Protecting and expanding the country's rental stock has been a particular focus in recent months as Canadians face skyrocketing rents. The loan program was launched in 2017 and has helped create more than 48,000 homes so far. It's aimed at building at least 131,000 apartments in the next decade.
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