Initial Projects To Profit From Investment

Based on what the Canada Mortgage and Housing Corporation said, the initial social housing units for the elderly and families who are less privileged or low-income earners are to profit from an investment of $12 million investment that was funded by the federal government.

The minister in charge of CMHC, Jean-Yves Duclos said in Edmonton earlier o that approximately 1,000 units will be renovated, refurbished and repaired with the assistance of the Reno/Retro initiative that was made last year.

Jean-Yves Duclos made a statement saying; “Our Government is investing in repairs and retrofits of social housing projects to improve the quality of life for those who need it most – low-income households, seniors, among others – and create good jobs that help grow Canada’s economy and Canada’s middle class in a clean and sustainable way. These investments are a transitional measure to address immediate and pressing problems in the short term while we take the time to develop new approaches for the future.”

Cooperative and non-profit housing projects that is overseen by CMHC are receiving funding. In areas like Alberta, Quebec, Prince Edward Island and Ontario, about forty-six projected located in those province will undergo retrofit work as well as housing unit renovation.