Metro Vancouver, 12 Jan- — Parm Bains, Member of Parliament for Richmond–East Steveston, today announced, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, that the Government of Canada is investing more than $7 million to support the repair and renewal of 715 rental housing units across Metro Vancouver.
The impact of this investment on local communities cannot be understated. The repairs and renewals announced today will provide hundreds of residents across Metro Vancouver with the safety, stability, and dignity of a secure home—strengthening 715 affordable housing units that are essential to the region’s well-being.
For many residents, including some of the most vulnerable members of our community, this investment represents an opportunity for a fresh start. By improving the quality and longevity of existing rental housing, these projects will help build stronger, healthier neighbourhoods and bring us closer to a better, fairer future for all.
These projects are made possible through the Affordable Housing Fund, a key federal program that provides low-interest loans and contributions to support non-profit organizations in building and renewing much-needed rental homes at below-market rates. The program demonstrates what can be achieved when developers, non-profits, and governments at all levels work together toward a shared goal.
This initiative is delivered through the National Housing Strategy, a 10-year plan focused on helping Canadians build stable, prosperous lives and ensuring that safe, affordable housing is within reach for those who need it most.
The Affordable Housing Fund is already making a meaningful difference for vulnerable individuals and families across Metro Vancouver. Due to its strong uptake and proven impact, the federal government recently increased the Fund by an additional $1.5 billion in loans, bringing total federal investment to $16 billion. This expanded funding will help communities move forward with thousands of shovel-ready housing projects nationwide.
Through continued investment and collaboration, the Government of Canada remains committed to strengthening housing affordability and improving quality of life for communities across Metro Vancouver and beyond.
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“This funding, from both the federal government and Metro Vancouver, will allow us to make critical repairs that will improve the quality of life for residents today, while also making our housing more energy efficient, accessible, and affordable for the future. These repairs will ensure Richmond residents have safe, comfortable homes, while also enhancing the long-term sustainability of local housing stock.”
Parm Bains, Member of Parliament for Richmond East—Steveston on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada.
