Federal funding for new rental units awarded to Regina
Regina is one of 41 municipalities chosen by Ottawa to receive funding to support the development of new affordable rental units.
The support is part of the third round of the Rapid Housing Initiative (RHI) Cities Stream, which is provided by the Canada Mortgage and Housing Corporation (CMHC).
“Addressing homelessness and housing insecurity requires collaborative and collective efforts from all levels of government and the non-profit sector. The ongoing support from the federal government through the Rapid Housing Initiative will positively contribute to Regina in helping to build a better future for all our residents,” Mayor Sandra Masters said in a release.
On Wednesday Regina City Council gave the green light for the city’s administration to receive funding from CMHC.
Administration will also now need to enter into a partnership with a non-profit housing group and secure a future building location.
A proposal from the city to CMHC must be submitted before March 15, 2023.
The city said once it receives approval to go ahead with the project it must be completed within 18 months’ time.
Currently the city anticipates to have the project completed by late 2024.
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