News release: August 7, 2020
Region of Peel receives over $276 million in federal funding to support Affordable Housing Master Plan
Government of Canada and Region of Peel partnering to develop more affordable housing.
BRAMPTON, ON. (August 7, 2020) – Today, the Region of Peel received a $276.4 million investment from the Government of Canada to help create more than 2,240 new affordable housing units and shelter beds by 2028.
“On behalf of Peel Regional Council, we are thrilled to partner with the Government of Canada to build much-needed affordable housing in Peel,” said Region of Peel Chair Nando Iannicca. “The pandemic is reinforcing how critical affordable housing is to community wellbeing and resiliency. We look forward to continuing to work with both our federal and provincial partners to increase urgently needed housing investments in Peel.”
These funds, provided through the Government of Canada National Housing Co-Investment Fund, represent one of the largest affordable housing investments made by the Government of Canada in Peel.
In 2019, Regional Council endorsed a total of $1 billion of funding to support development of these new housing units on Region of Peel owned sites. The new projects are part of Peel’s Housing Master Plan.
To date, $672.8 million of funding has been secured for development:
- $335.3 million in Regional funds.
- $276.4 million in Federal funds.
- $61.1 million in funds committed through Federal and Provincial housing programs.
“With these funds, the Region will be able to continue building new affordable housing in Brampton, Caledon and Mississauga,” said Iannicca. “Only with ongoing partnerships with the federal and provincial governments can we increase the supply of affordable housing to meet the growing needs in Peel.”
For more information about Peel’s housing and homelessness services, visit peelregion.ca/housing.
Region of Peel
The Region of Peel works with residents and partners to create a healthy, safe and connected Community for Life for approximately 1.5 million people and over 175,000 businesses in the cities of Brampton and Mississauga and the Town of Caledon. Peel's services touch the lives of residents every day. For more information about the Region of Peel, explore peelregion.ca and follow us on Twitter @regionofpeel and Instagram @peelregion.ca.