The City of Regina is set to receive funding to support the development of new affordable rental units.
The funding comes from the Federal Government and is the third round of the Rapid Housing Initiative (RHI) Cities Stream, administered through the Canada Mortgage and Housing Corporation (CMHC).
The funding will facilitate the rapid construction of new permanent affordable housing units for vulnerable populations and prioritized under the National Housing Strategy.
At Wednesday’s city council meeting, council approved the administration to agree with CMHC to receive the RHI funding and to pursue the next steps, which include securing a non-profit housing partner to lead the delivery and operation of the housing units and securing a location.
The City will submit a proposal to CMHC by March 15 next year. Upon approval, the project must be delivered and available for occupancy within 18 months, anticipated in late 2024.
Mayor Sandra Masters said the funding would help with the City’s progress in addressing housing.
“I know in the last year there were 333 affordable housing units added, and that’s a huge improvement,” she stated. “In 2018, the plan to end homelessness had 80 as a target, and if we did 333 in one year and we did 746 in the last three-year period. So we are making progress on affordable housing, and that work needs to continue.”
“Addressing homelessness and housing insecurity requires collaborative and collective efforts from all levels of government and the non-profit sector,” Masters continued. “The ongoing support from the federal government through the Rapid Housing Initiative will positively contribute to Regina in helping to build a better future for all our residents.”
Masters added that they don’t have a dollar figure yet, but believe it will be similar to the previous funding the City received.
It was in July 2021 that the City was awarded $7.75 million from the Canada Mortgage and Housing Corporation to help build 29 affordable housing units at 120 Broad Street.
