The federal government is giving St. Catharines $25M to boost housing supply.
St. Catharines MP Chris Bittle made the announcement today at the site of an apartment building, under construction, in the downtown core.
Officials say the funding will help fast track almost 700 homes in the next three years, and more than 12,000 homes over the next decade.
“This is fantastic news for the City of St. Catharines. The Housing Accelerator Fund is set to support the City in implementing a range of fresh initiatives aimed at boosting the approval of housing units, ensuring that more individuals have a place to call home,”said Mayor Mat Siscoe.
“I want to thank the federal government for working collaboratively with municipalities to tackle the housing crisis. Clearly we are capable of conquering greater challenges when we all work together.”
One of the initiatives included in the deal with the city, is the creation of a municipal development corporation, which will take the lead in bringing city-owned property to market to support new housing opportunities and establish partnerships with the development community.
“The City of St. Catharines would like to thank the Federal Ministry of Housing, Infrastructure and Communities and CMHC for this substantial investment in housing. The City is proud to be one of the recipients of HAF and believe it will fundamentally change the way homes get built in the city. This is a tremendous example of how different orders of government are able to enter into partnerships to improve the lives of the residents of St. Catharines and across the country,” said Chief Administrative Officer David Oakes.