Surrey will receive $11.4 million under the federal Rapid Housing Initiative to create at least 23 “deeply affordable, rapidly built” housing units in the city, Minister of Housing, Diversity and Inclusion Ahmed Hussen announced today.
Hussen held a presser with Surrey Mayor Brenda Locke at city hall on Wednesday morning.
“This is rapidly built housing, usually built anywhere between 12 and 18 months and it targets the most vulnerable people, people who are experiencing homelessness or people who are at risk of experiencing homelessness, the most vulnerable members of our community and it is very, deeply, deeply affordable housing. We’re talking about very low rental rates,” Hussen told the Now-Leader.
This is the third time Surrey has benefited from the fund. It already received $16 million for 55 units in the first round and almost $14 million for 30 units in the second.
“Because the federal government is paying 100 per cent of the capital cost, then we’re able to enable the municipality and the non-profits to use the rapid housing units to offer deep levels of affordability,” Hussen said.
“Now, the specific where those units will be, we’ll be in the position to announce that after May this year.”
Surrey is one of 41 recipients for funding, through the federal government’s latest investment of $1.5 billion through the RHI, bringing the total to date to $4 billion. It’s expected to create at least 4,500 affordable housing units across Canada with 25 per cent earmarked for women-focused housing projects.
“We are very pleased with the money that the federal government is providing to Surrey,” Locke told the Now-Leader. “As everyone knows, housing is number-one priority for our city right now and housing for women particularly is of great importance. Moms and children and family housing is in great need in our city. This will provide secure housing for 23 families; this is very good news for Surrey.”
The RHI money is provided to facilitate rapid construction of housing and acquiring existing buildings to rehabilitate or convert to permanent affordable housing. This third round of RHI funding will see $1 billion go to the Projects Stream and $500 million to the Cities Stream.
tom.zytaruk@surreynowleader.com
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