$74.7 Million in Federal Investments Going Towards Affordable and Energy Efficient Housing in Ottawa

Published on October 12, 2018

Millions Invested into Affordable and Energy Efficient Housing

The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Catherine McKenna, Minister of Environment and Climate Change and Member of Parliament for Ottawa Centre, announced on September 21st that an investment totaling $74.7 million is being put towards the construction of 243 new rental housing units, aiming to provide middle-class Ottawans with a safe and affordable place to live.

$70.8 million of the investment will be used in the Claridge Homes housing project, which aims to construct a twenty seven storey building comprised of 227 units for rent, with over 200 of them having rent rates lower than 30% of the median household income in the area. The remaining $3.9 million is earmarked for a passive house project by the Centretown Citizens Ottawa Corporation’s (CCOC) project. The CCOC is looking to construct 16 new rental housing units with rent well below 30% of the median household income in the area, and as their new building is going to be a passive house, it will aim to significantly increase energy efficiency while reducing energy bills for its tenants.

These federal investments coming through the CMHC’s Rental Construction Financing initiative (RCFi) are however not the only projects they have on hand. As the rental market is relied upon by approximately 30% of Canadians as a housing option, the RCFi is also looking to encourage the construction of over 14 000 new rental housing units Canada wide.  

The Province’s HRRP Now Offers New Eligibility, New Territories, & New Incentives.

There’s great news for homeowners who are planning to do residential renovations or upgrades! The Ontario Government has significantly enhanced the province’s Home Reno Rebate Program. And the bottom line for homeowners - higher rebates! By doing renovations or upgrades that will improve a home’s energy efficiency, homeowners may be eligible for substantial rebates of up to $5,000 from Union Gas. Simply put, there are long-term payoffs with an energy efficient home.

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