Feds pour $120M into new 26-storey affordable housing building in Brampton
BRAMPTON, Ont.—Prime Minister Justin Trudeau says the federal government is pouring nearly $120 million into affordable rental units in Brampton, Ont.
The money is set to be used to build a 26-storey building that has been described as being “multi-residential” and “energy-efficient.”
Being developed by the Daniels Corp. and Choice Properties Real Estate Investment Trust, more than 300 families are expected to be able to live in the units.
The announcement is part of the Rental Construction Financing Initiative, which supports new rental housing builds across Canada. The program aims to provide low-cost, insured loans to developers and cities where more rental housing is needed.