The Government of Canada and the Regional Municipality of Peel announced funding to support the construction of 118 homes in Peel Region. The federal government is providing over $23.8 millionin funding through the National Housing Co-Investment Fund (NHCF) and the third round of the Rapid Housing Initiative (RHI), while the Regional Municipality of Peel is providing $21 million.
The announcement took place at the Clarkson Standard Support project, located at 1639 Lakeshore West in Mississauga. The project was selected under the third round of the Rapid Housing Initiative Cities Stream and benefitted from $19.7 million in federal funding. This multi-residential community will create 50 new affordable apartments for some of Mississauga’s most vulnerable who face housing insecurity due to various barriers to stable, independent living including women, BIPOC, and those who live with mental health, addiction, and/or physical and mental disabilities. It will also include tenant amenity spaces designed to support health, wellness, and belonging. Walkable and transit oriented, the property is within proximity to high-frequency bus service, schools, parks, social services, and Clarkson BIA commercial corridor.
The second project announced today is the Lakeshore Lofts, located at 425 Lakeshore in Mississauga. This low-rise apartment building received $4.1 million in repayable loan from the National Housing Co-Investment Fund (NHCF) and $21 million in forgivable loan from the Regional Municipality of Peel. Lakeshore Lofts will offer 68 affordable units and a supportive housing model that will connect residents to health and wellness resources while creating a sense of belonging. The targeted population aims to serve people with physical disabilities, mental health challenges, substance abuse and addiction issues. The non-residential spaces in the building will be occupied by non-profit support and public-benefit agencies that align with the goals and objectives of the supportive housing programs. The areas will provide food security programs, offices for the social services, and retail spaces for social enterprise organizations pursuing job and skills training activities for vulnerable and general populations. While living independently, tenants also have access to a free in-house 24-hour support line.
“This is an excellent project for the Federal Government’s Rapid Housing Initiative. We are in a housing crisis, and every level of government is stepping up to provide more deeply affordable housing. Indwell has been a strong community partner in Mississauga, first in Port Credit, then Streetsville, and now in Clarkson. I look forward to continuing the process to build more affordable housing with our government partners.”Alvin Tedjo, Councillor Ward 2
“We are so pleased to partner with the Region of Peel and CMHC to make more supportive affordable housing available to all residents and address our homelessness crisis. Indwell is grateful to receive this generous funding for our third site – in Clarkson Village. We look forward to beginning construction soon so that together, we can continue to build more Hope and Homes here in Mississauga.”Jeff Neven, CEO, Indwell