Peel Region receives $276.4 million to invest in affordable housing

Written By ALYSSA PARKHILL

Many Residents and all councils from across Peel Region blew a collective sigh of relief last week when the federal government announced it would be provided some much-needed funds to bolster affordable housing reserves across the community. 

Last Friday (August 7), Region of Peel received $276.4 million from the federal government to help create more than 2,240 new affordable housing units and shelter beds by 2028.

“Our government is committed to ensuring all Ontarians have access to an affordable place to call home,” said Minister of Municipal Affairs and Housing, Steve Clark in a recent news release. “These important investments in Peel Region are the latest examples of the good things that can happen when we work together to help those most in need in our province.”

This investment made history in Peel Region, representing the largest housing funding it has ever received from the Government of Canada. 

The $276.4 million will go directly towards the $1 billion commitment the Regional Council endorsed back in 2019 to support the construction of new housing units and sites, which all fall under Peel's Housing Master Plan. 

Many key officials within the Region are confident that the Housing Master Plan will be completely funded. The overall goal is to develop over 5,650 new affordable rental units in the region by 2034, including 31 projects on Peel lands and corporation sites.  

Alongside the federal government's investment, a total of $672.8 million has been put into the housing bucket, with $335.3 million in funding from the Region of Peel and $61.1 million through  a collection of housing programs. 

“On behalf of Peel Regional Council, we are thrilled to partner with the Government of Canada to build much-needed affordable housing in Peel,” said Region of Peel Chair Nando Iannicca. “The pandemic is reinforcing how critical affordable housing is to community wellbeing and resiliency. We look forward to continuing to work with both our federal and provincial partners to increase urgently needed housing investments in Peel.”

Caledon Mayor Allan Thompson was among many local dignitaries in attendance at the announcement, which took place at Peel Manor Seniors Health and Wellness Village in Brampton.

“These funds, along with Region of Peel's significant commitments, is a huge step forward in helping the Region to address housing needs, including in Caledon,” said Mayor Thompson. “I encourage our government partners to continue working with us into the future so we can achieve the goals of our ten-year housing and homelessness plan.”

Brampton Mayor Patrick Brown was equally pleased with the announcement, saying the investment would, eventually, make a huge difference across the region. 

“This is showing exceptional leadership from our federal government, our provincial government, and understanding this need exists in Peel Region,” said Mayor Brown in his announcement. 

According to the Homeless Hub, Peel Region found 922 persons experiencing homelessness within the region in 2018. 

Regional Council, along with municipal representatives look forward to being able to support and develop affordable housing in the Peel region, which is greatly needed.

“With these funds, the Region will be able to continue building new affordable housing in Brampton, Caledon and Mississauga,” said Iannicca. “Only with ongoing partnerships with the federal and provincial governments can we increase the supply of affordable housing to meet the growing needs in Peel.”

For more information, visit peelregion.ca.