Sat. Mar 2nd, 2024

Regina receives $35M from the federal government for housing construction

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These aerial images show homes under construction in a Regina, Saskatchewan neighborhood in spring 2022.

Radio-Canada

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Federal Housing Minister Sean Fraser and Regina Mayor Sandra Masters announced Friday $35 million from Ottawa's Accelerated Housing Fund (HCAF) to to build more than 1,000 homes in the city over the next three years.

These homes will be in addition to those normally built in the city.

The City of Regina initiated efforts in June 2023 to obtain $36.2 million from the federal government's Canada Mortgage and Housing Corporation (CMHC) through the FCIF. p>

When we see the ambition that Regina shows, it's absolutely exciting, because we have good partners on the ground. This is what makes me optimistic about our ability to put an end to the housing crisis we are going through, said Mr. Fraser during a press conference on Friday.

Even if the amount granted to the City is lower than the City's initial request, the Mayor of Regina still welcomed it, describing the federal fund as an innovative approach and a solution to a problem facing everyone. world is facing.

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Recently Regina City Council approved changes to some of its bylaws to allow the construction of housing and facilitate densification through multi-family homes and multiplexes. The changes also aim to allow greater density along urban corridors by increasing height limits and ensure that different types of housing can be built in already established neighborhoods.

We want to move quickly here in Regina, Ms. Masters promised..

We know our rate of ;housing vacancy is less than 1% in most areas of the city. What's happening is it's putting pressure on rents and we just don't have enough supply in the market, she said.

The City of Regina will also establish a funding program to cover pre-development costs for the redevelopment of underutilized sites. The administration will also make it easier to build more housing by partnering with nonprofit housing groups, according to the press release.

With information from Alexander Quon

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