Toronto, Ontario — The Governments of Canada and Ontario today announced the City of Toronto will be receiving more than $154 million in social infrastructure funding, which doubles the City’s allocation of the Investment in Affordable Housing Agreement and provides targeted support to housing programs for those who need it most in the City of Toronto.
Jean-Yves Duclos, Federal Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) along with Chris Ballard, Ontario Minister of Housing and John Tory, City of Toronto Mayor, made the announcement today at Regent Park in Toronto.
“Our Government is committed to making significant investments in affordable housing here in Toronto and across Canada. We are strengthening Canadian communities and helping create jobs and grow the middle class and those fighting hard to join it. We are providing better places for families, seniors and individuals to live and grow, and building a strong foundation for a sustainable economic future.”
“Ontario is answering the call for better access to affordable housing in Toronto by doubling the City of Toronto’s funding. We’re doing this through our Investment in Affordable Housing program, under the Social Infrastructure Fund. By making targeted investments where they are needed most, we’re ensuring Ontario will continue to be a place where the work of building stronger communities starts at home.”
“This is a good first step in addressing the affordable and social housing crisis Toronto is facing, and City Council thanked the other levels of government by accepting the funding at the July council meeting. To make a real difference in the lives of the people of Toronto we need to build on this investment with both the provincial and federal government. Without real partnerships from all levels of government, Toronto will become more and more unaffordable, affecting people of all ages and demographics as well as the social and economic health of our city. We have to keep Toronto affordable for the good of our economy and our residents.”