Feds pour $120 million into affordable housing in Brampton; 300 families moving in
by the canadian press
Last Updated Jul 19, 2021 at 6:17 pm EDT
A worker speaks on the phone at a construction site in Brampton, Ont., on Monday, July 19, 2021. THE CANADIAN PRESS/Christopher Katsarov
BRAMPTON, Ont. Prime Minister Justin Trudeau says the federal government is pouring nearly $120 million into affordable rental units in Brampton, Ont.
The money is set to be used to build a 26-storey building that has been described as being “multi-residential” and “energy-efficient.”
More than 300 families are expected to be able to live in these units.
The investment is part of the federal government’s plan to “build stronger communities, create jobs, and grow our middle class, while supporting vulnerable Canadians and helping end homelessness.”
Feds pour $120 million into affordable housing in Brampton; 300 families moving in
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1) Based on very preliminary estimates
RioCan has many options to utilize the 42mm square feet of identified GFA density that is inherent in its existing portfolio. In addition to the projects noted above, the Trust will continue to utilize some of this density for condominium and for housing ownership developments, particularly as components of larger multi-phased mixed use communities. These inventory projects represent yet another lever for RioCan’s growth going forward. The prominence of this utilization will be governed by the market conditions at the time and the make-up of the Trust’s balance sheet.
Building on RioCan’s history of investing in the communities that it serves and aligned with its Environmental, Social and Governance strategy, the Partners will be supporting the City’s Community Economic Development Initiative as part of this project. The Partners’ contributions to the initiative includes a $100,000 scholarship fund for TCHC tenants, a $250,000 ec