Real eState

Federal government says it will build 17,000 homes, pegs cost at $2 billion

Published

2 years ago

August 30, 2022

KITCHENER, Ont. — The federal government says it will spend more than $2 billion to build 17,000 homes, including thousands of affordable units.

Prime Minister Justin Trudeau made the announcement Tuesday in Kitchener, Ont., alongside Housing Minister Ahmed Hussen, after meeting with local politicians, housing advocates and other stakeholders.

Trudeau said housing prices are rising across the country, and many Canadians are worried about being able to afford a place to live, whether they’re renting or looking to buy a home.

“When people have stable homes, they can build more stable lives. They can participate and create their communities, they can contribute their skills to businesses and organizations in our economy, and we all benefit from that,” he said.

Tuesday’s announcement will see the Rapid Housing Initiative extended for a third round to build 4,500 affordable housing units, some of which will be part of women-focused housing and homelessness projects.

The program was launched in 2020 and provides funding to allow the rapid construction of new housing and the purchase of existing buildings to be turned into affordable housing units. Trudeau said the first two rounds are expected to create 10,000 units, more than the 7,500 initially planned.

At least another 10,800 homes will be built through the Affordable Housing Innovation Fund, 6,000 of which will be affordable units.

The federal government is also creating a five-year rent-to-own program to help develop and test rent-to-own models and projects.

The funding for these projects was set aside in the 2021 and 2022 federal budgets.

This report by The Canadian Press was first published Aug. 30, 2022.

The Canadian Press

Real eState

Homelessness: Tiny home village to open next week in Halifax suburb

Published

5 hours ago

October 24, 2024

Anne Joseph

HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

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Real eState

Here are some facts about British Columbia’s housing market

Published

1 week ago

October 17, 2024

Anne Joseph

Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

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B.C. voters face atmospheric river with heavy rain, high winds on election day

Published

1 week ago

October 17, 2024

Anne Joseph

VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.

Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.

The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.

Wednesday was the last day for advance voting, which started on Oct. 10.

More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.

Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.

An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.

This report by The Canadian Press was first published Oct. 17, 2024.

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