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Oct 27, 2020 7:41 PM -

New Rapid Housing Initiative to create up to 3,000 new homes for Canadians

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Prime Minister Justin Trudeau looks around the room during a news conference, Friday, Oct. 23, 2020 in Ottawa. THE CANADIAN PRESS/Adrian Wyld

Prime Minister Justin Trudeau says far too many Canadians are living without a roof over their head, and his government is taking action to reduce that number.

Trudeau revealed details this morning on Ottawa's one-billion-dollar investment into a federal rapid housing initiative.

Fifteen cities will share a 500-million-dollar fund to allow them to buy properties being sold because of the COVID-19 pandemic.

The other 500 million dollars will be used for building housing projects that will have to be completed within 12 months of receiving the funds.

The federal government's money would be used to create or purchase three-thousand new affordable housing units across Canada.

Prime Minister Justin Trudeau says the one-billion-dollar investment into a federal rapid housing initiative will be divided equally between a major cities stream, and a projects stream.

The money to the big cities should be moving out in the next few days, with Toronto getting the lion's share of about 203-million-dollars.

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