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Monday, October 2, 2023
HomeNewsFederal Government Invests $9.05 Million in YK Homes

Federal Government Invests $9.05 Million in YK Homes

The Government of Canada, in collaboration with the GNWT, has released details regarding a major upcoming renovation project.

It was announced on Monday morning that up to $9.05 million will be used to renovate 50 Yellowknife townhouses through the National Housing Co-investment Fund (NHCF).

The townhouses in question are located at 2000 Finlayson Drive, and they will be renovated as part of the Borealis Housing Cooperative.

An additional $60 million was initially slated for the northern carve-out funding, which was originally announced in March of 2021. This money, as well as the new $9.05 million, is being rolled out to help balance out the costs that can easily accumulate due to the many challenges that can be faced when building in the north. Some of the money will also be put towards programs that assist at-risk individuals, such as women and children, people with disabilities, and seniors.

Through the NHCF, the Government of Canada is working with partners to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes. This program is a part of the National Housing Strategy and will ensure that housing is within reach for all Canadians no matter where they live.

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