The federal Liberal government is planning a $600 million loan and financing package to make housing construction easier and less expensive for homeowners and renters.
Prime Minister Justin Trudeau announced the new measure Friday in Calgary — the latest in a series of pre-budget announcements aimed at convincing young voters.
Mr. Trudeau specified that $50 million will be dedicated to a fund for technology and innovation in residential construction, and an additional $50 million will aim to modernize and accelerate construction, via federal regional development agencies.
An additional $500 million in low-cost loans will support projects using “innovative” construction techniques from prefabricated and modular housing manufacturers and other builders.
Finance Minister Chrystia Freeland will table the next federal budget on April 16.
Thursday in Winnipeg, Justin Trudeau announced a new $1.5 billion fund to help non-profit organizations acquire more affordable rental housing. This fund will offer 1 billion in loans and 470 million in contributions to different partners so that they can acquire housing and maintain rental prices in the long term.
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