Affordable housing has been a hot topic in Brampton for some time now. Living in Brampton can be expensive, and while some individuals and families can live here comfortably, it’s not so easy for others.
Though affordable housing is hard to come by across the province, now, a new project is underway to bring more affordable housing units to Brampton.
The federal and provincial governments recently announced that they’re investing over $44 million to create 298 more affordable housing units through the Canada-Ontario Investment in Affordable Housing (IAH) agreement in Peel Region, including six in Brampton at the Main Street and Market Street development.
A whopping $44,357,311, to be exact.
The Region of Peel also contributed more than $66 million to these projects.
A total of four developments will aim to provide more affordable housing for individuals, families, and seniors in Peel Region:
Table courtesy of the Province of Ontario
Brampton is indeed getting six new affordable housing units in the development at 171 Main Street North, with $638,190 of funding from the federal and provincial governments to obtain the units.
Six might not seem like many but the Region of Peel also used IAH funding to purchase individual units in condominium developments throughout the region – that’s what the Region of Peel Condominium Acquisition Project listed on the table entails, including 78 units.
The announcement took place at an official groundbreaking for The Daniels Corporation’s affordable housing development at 360 City Centre Drive in Mississauga.
Under the IAH, Ontario and the federal government are investing a total of $1.9 billion to improve access to affordable housing across Ontario. The province says it has committed more than $5 billion in funding for affordable housing since 2003, which has helped support more than 22,000 new affordable rental housing units, more than 335,000 repairs and improvements to social and affordable housing units and rental and down payment assistance to more than 93,000 households in need.
Canada’s first ever National Housing Strategy is a 10-year, $40-billion plan that will work to create more affordable housing for residents.
“The need for affordable housing in Peel continues to grow, making it a priority of Region of Peel Council to increase affordable housing for Peel residents,” said Frank Dale, Chair of the Region of Peel.
“This new development and other investments in Peel are examples of strategies we identified in the Region’s new long-term housing and homelessness plan, ‘Home for All,’ which support our long-term outcomes that affordable housing is available to all residents and homelessness is prevented. The Region looks forward to ongoing partnerships with the federal and provincial governments, our local municipalities, the private sector and the community to increase affordable housing and create safe and connected communities where all Peel residents can live and thrive.”
Brampton is also getting its own affordable housing strategy, Housing Brampton, so residents might see an uptick in affordable housing in the coming years over all.