Achi news desk-
CALGARY –
The federal Liberal government is planning a $600-million loan and funding package to help make it easier and cheaper to build homes for owners and renters.
Prime Minister Justin Trudeau is making the announcement in Calgary, just the latest in a series of pre-budget announcements aimed at winning over younger voters.
“Younger generations, like millennials and gen-Z, feel like they’re being left behind because housing costs are a little too high,” Trudeau said.
“That’s not right – and it needs to change.”
Trudeau said $50 million would go toward a housing construction technology and innovation fund, with another $50 million to modernize and speed up construction.
An additional $500 million worth of low-cost loans will foster projects with “innovative” construction techniques from prefab and modular home manufacturers and other builders.
Housing Minister Sean Fraser said Canada is living through a housing crisis, but it doesn’t have to be that way moving forward.
“But it’s going to require us to do things in different ways,” he said, adding that more announcements will be made in the coming weeks.
Finance Minister Chrystia Freeland will present the next federal budget on April 16.
In Winnipeg on Thursday, Trudeau announced $1.5 billion to help non-profits acquire more rental units and ensure their affordability.
This report was first published by The Canadian Press on April 5, 2024.
