The Canadian Government is investing up to $184 million to construct affordable housing on city-owned sites. There are plans for up to 1,100 units across Vancouver to be funded through Canada Mortgage and Housing Corporation (CMHC). The first funded projct, Pierview Homes, is a 140-unit co-operative housing development in the River District of southeast Vancouver. Learn more about this initiative in the full article here.
Another recent announcement is the First Time Home Buyer Incentive which launches Sept. 2. This Incentive helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens. Learn more about the program here.
Be sure to call CCEC and talk with our mortgage experts about your options.
The Federal Government says that every Canadian deserves to have a safe and affordable place to call home. With this in mind, in 2017 they launched the National Housing Strategy and aim to cut homelessness in half.