Big city mayors ask federal Liberals for $12.6B for affordable housing
OTTAWA — The mayors of Canada’s largest cities are making a billion-dollar push for federal housing money just as the Liberals are set to finalize a national strategy, and the minister responsible is trying to manage expectations.
The mayors want the federal Liberals to set aside $12.6 billion during the next decade to help build new affordable housing units and alleviate a growing need in places like Toronto and Vancouver.
The lion’s share, about $7.7 billion, would go to repairing and maintaining existing units nationwide. A further $4.2 billion would go to building up to 10,000 new affordable housing units annually across the country. There is also approximately $700 million for a portable rental subsidy that wouldn’t be tied to a unit, but to a recipient.
It’s a major ask of the federal government as it works to finalize the second phase of its infrastructure program and allocate $17.7 billion for affordable housing, seniors homes, recreational facilities and child care — with each of those sectors competing for the cash.