The governments of Canada and Prince Edward Island have announced a 10-year housing agreement.
Families, Indigenous communities, and vulnerable Canadians in need of an affordable place to call home will be able to count on long-term funding for community housing.
The bilateral agreement under the National Housing Strategy will see the two governments invest a minimum of $15 million to support housing repair, construction, and affordability in Prince Edward Island.
There will also be a new Canada Housing Benefit with this investment being announced later.
"Today, with the Prince Edward Island Government, we have taken a significant step toward our goal of building strong communities where Canadian families can prosper and thrive, now and for the future. Our Government will continue working in partnership with Prince Edward Island and other provinces and territories towards a 15% expansion in new affordable housing units and renewing 20% of existing community housing units across the country," said Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development.
In addition to new construction, investments under the NHS bilateral agreement will target the preservation of at least 936 existing community housing units in Prince Edward Island, not including investments under the Canada Housing Benefit.
