Canada and FCM Invest in Energy-Efficient Affordable Housing in Vancouver
On March 1, 2022, Hon. Jonathan Wilkinson, Minister of Natural Resources and Garth Frizzell, Past President of the Federation of Canadian Municipalities, announced a $10 million investment through the Green Municipal Funds (GMF) Sustainable Affordable Housing (SAH) initiative to redevelop two residential units for low-income seniors in Vancouver, BC.
The project is also supported by funding from the Canada Mortgage Housing Corporation (CMHC) and BC Housing and will create 157 new energy-efficient units by the time the project is completed in spring 2024.
According to the press release, these units “will consume 90 percent less energy than conventional buildings.”
“FCM’s Green Municipal Fund helps municipalities and their partners adopt climate solutions faster,” said Mr. Frizzell. These investments will help … provide energy-efficient, affordable housing to seniors in Vancouver.”
The SAH initiative is a $300 million federal program designed to support “local housing providers – including municipal, not-for-profit organizations and housing co-ops – to retrofit existing affordable housing units, or construct energy-efficient new builds that emit lower GHG emissions.”
The money was earmarked by the federal government as part of a $950-million expansion of the Federation of Canadian Municipalities GMF 2019 Budget.
The GMF was launched in 2000 and has invested over $1.1 billion in nearly 1,800 sustainability projects over the course of two decades.
Since May 2020, the GMF has approved funding for 94 SAH projects “that will retrofit or build more than 22,500 units of net-zero or deeply efficient affordable housing.”
Members can learn more about the GMF, including current capital projects, long-term strategic planning, as well as funding opportunities by visiting the Federation of Canadian Municipalities website.
For more information, contact Stephen Chartrand at 1-800-267-2231 ext. 276, or email schartrand@hrai.ca.
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