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    FRANK LEO & ASSOCIATES

    #1 RE/MAX TEAM IN TORONTO & THE GTA**

    The federal government is planning to invest $10B in affordable housing across Canada. The money will be used in a mix of funding projects and policy changes aimed at making housing more affordable. Much of the investment will go directly to boosting the supply of homes, something that is key for Toronto. 

    The city was looking at an extension of funding for a project it partnered on with the federal government: the Rapid Housing Initiative (RHI). The budget proposed will allow for the extension of the program which will create new affordable rental housing for marginalized people experiencing, or at risk of homelessness. The government will put $1.5 billion over two years towards this initiative.

    Ana Bailão, a deputy mayor and the chair of the planning and housing committee said “that is an important initiative. In Toronto alone, between Phase 1 and Phase 2 {of the RHI}, we have about 1,000 units, … And again, these deeply supportive housing units are very important as part of the housing continuum.”

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