Today, the federal government released the first round of National Housing Strategy programs, kicking off a new era for housing in Canada. The National Housing Co-Investment Fund’s ‘Repair and Renewal’ stream targets the repair of 240,000 units, with $2.26 billion in capital contributions and $3.46 billion in low-cost, long-term loans. This stream will help to catalyze Tower Renewal across the country, benefiting Canadians living in both public and privately-owned housing.

These programs represent significant investments toward the preservation of existing housing, reduction of greenhouse gas emissions through retrofits, and the crucial maintenance of this stock’s affordability and ongoing social sustainability.

The Tower Renewal Partnership welcomes these new programs and their potential to catalyse major shifts nation-wide toward the renewal of Canada’s aging housing stock. We look forward to working with a broad cross-section of stakeholders — including residents, owners, industry, nonprofits, and governments — to demonstrate the potential of renewal projects to lead the way in envisioning healthy, secure, and affordable housing for all Canadians.