CMHC provides C$145.7m financing for Hamilton affordable housing regeneration

Our Toronto and Ottawa offices advised the Canada Mortgage and Housing Corporation (CMHC) on a C$145.7m federal government financing, in partnership with CityHousing Hamilton Corporation and the City of Hamilton, for the repair and regeneration of 6,290 affordable housing units in Hamilton. Many of these units will be for priority vulnerable groups, with almost half of the units dedicated to seniors across the city.

The financing will be provided by way of two loans over a nine-year period under the NHCF for a total of C$145.6m in financial support: That includes a C$58.2m forgivable loan and a C$87.4m repayable loan.

This funding is being delivered through CMHC’s C$13.2bn National Housing Co-Investment Fund (NHCF), which supports new and revitalization construction of mixed-income, mixed-tenure, and mixed-use affordable housing. The NHCF is a key pillar of the Government of Canada’s National Housing Strategy (NHS), a ten-year, C$70bn plan that will give more Canadians a place to call home.