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WINNIPEG, MB, March 5, 2021 /CNW/ - Every Canadian deserves a safe and affordable place to call home. Thanks to investments made by the Government of Canada, residents of Winnipeg will soon have access to more stable rental housing options.
Government of Canada (CNW Group/Canada Mortgage and Housing Corporation)
Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), Terry Duguid, Member of Parliament for Winnipeg South, and Brian Bowman, Mayor of Winnipeg, announced $22.85 million to help construct 87 residential units located at 140 Transcona Boulevard in Winnipeg.
But a closer look at the numbers makes it all pretty depressing.
The federal government promoted Monday’s “major housing-related announcement” for days in advance, touting big names like Ahmed Hussen, the federal minister of families, children and social development, Vancouver Mayor Kennedy Stewart, and Vancouver Centre MP Hedy Fry.
The politicians said how pleased they were to reveal the City of Vancouver has used federal funds to purchase the Days Inn in East Vancouver and convert it into 65 supportive homes for the homeless.
The hotel purchase and renovation is funded by the federal Liberal government’s Rapid Housing Initiative, which was announced last September and committed $51.5 million to Vancouver to quickly create up to 135 new affordable homes in the city. Surrey got another $16.4 million, while Victoria received $13.1 million.
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Winnipeg Free Press
Starlight Investments renderings of a proposed development of Portage Place.
The company behind a $400-million proposal to redevelop Portage Place says the entire project is now in jeopardy.
The company behind a $400-million proposal to redevelop Portage Place says the entire project is now in jeopardy.
Starlight Investments had hoped to secure $20 million of federal funding by a due diligence deadline at 5 p.m. Monday, money it says it needs to make the project feasible. Shortly after deadline passed, the company said it had not receive a funding decision or a set timeline on when one might be made, putting the project at risk.
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