A housing co-op in Toronto has been awarded CA$2.2m (£1.3m) from the Canadian government’s National Housing Co-Investment Fund (NHCF).
Harmony “B” Housing Co-operation Corp is a 78-unit rental co-op in the heart of the city. The construction of its apartments and town houses was completed back in 1981, and the funds will enable the property to undergo repair and modernisation.
The National Housing Co-Investment Fund (NHCF) is a pillar initiative of the Canadian government’s National Housing Strategy – and the largest programme of its kind in Canadian history.
With a budget of $13.2bn (£8.1bn), NHCF gives priority to projects that help those in greatest need, including women and children fleeing family violence; indigenous peoples; veterans; young adults; people with disabilities and those dealing with mental health problems and addictions.
The National Housing Strategy (NHS) is a 10-year, $55bn (£34bn) plan to create 125,000 new housing units; lift 530,000 families out of housing need; repair and renew more than 300,000 housing units and reduce chronic homelessness by 50%.
Related: Canadian housing co-ops welcome federal investment in housing affordability
Adam Vaughan, parliamentary secretary to the minister of families, children and social development, said: “Our government continues to invest in affordable housing here in Toronto, and across Canada to improve the quality of life of those who need it most. With this funding, we are able to give a helping hand to individuals in need, and in doing so, we are contributing to the economic and social wellbeing of the entire community.”
Vit Hrdlicka, treasurer of Harmony “B” Housing Co-operative, said: “We are pleased to receive $2.2 million in financial commitment from the federal government under the National Housing Co-Investment Fund programme. Access to this funding will allow us to complete urgent repairs.”
