SoVote

The Assistant Deputy Speaker (Mrs. Alexandra Mendès)

May/31/22 7:21:30 p.m.
Watch

The hon. Parliamentary Secretary to the Minister of Housing and Diversity and Inclusion.

13 words

Ms. Soraya Martinez Ferrada (Parliamentary Secretary to the Minister of Housing and Diversity and Inclusion (Housing), Lib.)

May/31/22 7:21:40 p.m.
Watch

Madam Speaker, I want to thank my colleague from Vancouver East for her advocacy on affordable housing. This is an issue of great concern for our government, so I am glad to have the opportunity to explain how we are addressing it through our 10-year and over $72-billion national housing strategy. This plan is creating housing to suit every need in Canada, from shelter and transitional housing to community housing to market rentals, and is helping to keep the dream of home ownership within reach of young families. Most of this strategy's program focuses on our most vulnerable populations. This includes the rapid housing initiative, which is already creating over 10,000 deeply affordable units for the most vulnerable. This includes 88 new units opened in the member's city of Vancouver in March, thanks to a $30-million federal investment. We are not stopping there. Through budget 2022, we are extending the RHI to create an additional 6,000 units. At the same time, we also need to address the issue of housing affordability for middle-income Canadians. In many of our cities, the people who work hard to keep communities running can no longer afford to live in them. Many teachers, nurses, store clerks and construction workers find it impossible to live, work and make ends meet in their urban centres. Even smaller cities and towns outside major urban hubs are seeing costs rise as more and more families leave the big cities. This is unacceptable. It threatens the well-being of middle-class citizens and their families. The rental construction financing initiative that my colleague mentioned helps those who do not qualify for assisted housing but still cannot afford the escalating prices of market rent. It encourages a stable supply of rental housing for middle-class families in expensive housing markets. This includes many of the people who are essential workers and who have played an invaluable role in our communities, especially throughout the COVID-19 pandemic. The program provides low-cost construction loans for 10-year terms. This gives developers stable, predictable funding in the early stages of development. In my colleague's riding of Vancouver East, it has created more than 400 units of rental housing, all near public transit, workplaces and community services. However, we recognize there is more to do to improve affordability. That is why, through budget 2022, we announced that the RCFI will target a goal of having at least 40% of the units it supports provide rent equal to or lower than 80% of the average market rent in local communities going forward. We will not rest until we ensure that every Canadian has a safe and affordable place to call home.

455 words

Ms. Jenny Kwan

May/31/22 7:24:52 p.m.
Watch

Madam Speaker, in question period on March 21, I asked the government why 90% of the funding under the rental construction financing initiative went to for-profit developers and why the units being built often ended up being 30% to 120% above the average market rent. I called on the government to change the requirements to ensure that housing units built under this program are substantially below market rent, and reforms were included in the agreement the NDP entered into with the Liberals. I am glad the confidence and supply agreement has significantly reformed the RCFI, including changing the eligibility for the program to under 80% of average market rent and allowing for loans to be forgiven when rent is below this minimum threshold. The change also includes an increase in the percentage of units per building that need to meet that criteria, from 20% to 40%. By way of comparison, let us say no changes were made. Rent based on the Liberals' affordability definition under the old RCFI was $2,294 in Vancouver per month. Under the new agreement—

181 words

The Assistant Deputy Speaker (Mrs. Alexandra Mendès)

May/31/22 7:25:59 p.m.
Watch

The hon. parliamentary secretary.

4 words

Secretary

Ms. Soraya Martinez Ferrada

May/31/22 7:26:04 p.m.
Watch

Madam Speaker, our government is fully committed to making housing more affordable for Canadians, whatever their housing needs. While our focus is on the most vulnerable populations, Canadians can count on us to be there to support the middle-class families that are working hard to keep our cities running. This is what builds inclusive, resilient communities where everyone has a chance to thrive. I encourage all members of the House to work with their communities to make the most of the national housing strategy and all the programs it has to offer, as well as the over $4 billion we are investing in housing through budget 2022.

108 words

The Assistant Deputy Speaker (Mrs. Alexandra Mendès)

May/31/22 7:26:47 p.m.
Watch

The motion to adjourn the House is now deemed to have been adopted. Accordingly, the House stands adjourned until tomorrow at 2 p.m., pursuant to Standing Order 24(1). (The House adjourned at 7:27 p.m.)

38 words

SoVote

House Hansard - 78