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Over $9 million will be invested into rapid housing funding for Richmond.
Photo by Jaana Björk
Canada invests over $9 million in rapid housing funding for Richmond
Published 12:20 PDT, Fri June 2, 2023
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Today, Wilson Miao, member of parliament for Richmond Centre on behalf of the Honourable Ahmed Hussen, minister of housing and diversity and inclusion, Parm Bains, member of parliament for Steveston-Richmond East, and Malcolm Brodie, mayor for the City of Richmond announced the details of the $9.1 million in funding for Richmond, one of the 41 recipients of the third round of the Rapid Housing Initiative’s (RHI) city stream.
As part of its investment plan for the Cities Stream, the City of Richmond has partnered with BC Housing and Turning Point Housing Society on a new, 25-unit affordable rental housing development for residents in need of safe and secure housing.
This is made possible by the Government of Canada’s additional investment of $1.5 billion through RHI, bringing the program’s total to $4 billion to support the country’s most vulnerable. The additional funding for the third round of RHI will be divided into two streams: $1 billion through the Projects Stream and $500 million towards the Cities Stream. This investment is expected to create at least 4,500 more affordable housing units for Canadians in severe housing need across the country, with 25 per cent of investments going towards women-focused housing projects.
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