Today, Jati Sidhu, Member of Parliament for Mission — Matsqui — Fraser Canyon, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced the construction and funding of 67 new rental-housing units in Chilliwack to help middle-class families have an affordable place to live.
Through CMHC’s Rental Construction Financing initiative (RCFi), the federal government is investing $11.8 million for the construction of Webb Avenue Apartments, a 4-storey building that will provide safe and affordable homes to 67 families. All the units will have rents held at or below 30% of median income in the area and at least 10% of the units will be accessible and some 27 units will be adaptable.
This project, being built by Richlane Builders, will provide affordable housing options close to public transit, schools and services for modest and middle-income households. As a result, they can enjoy better social outcomes and contribute to vibrant and socially inclusive neighbourhoods.
“Through the National Housing Strategy, more middle class Canadians – and those working hard to join it – will find safe, accessible and affordable homes where their families can thrive and children learn and grow. Our Government is committed to increasing the supply of rental units for Canadians through projects like the one we are announcing today,” said Duclos in a prepared statement.
The RCFi, a National Housing Strategy initiative delivered by CMHC, supports affordable rental housing construction projects to encourage a stable supply of affordable rental housing across the country for middle-class families struggling in expensive housing markets.
Under the Investing in Canada plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada’s rural and northern communities.