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Ottawa will invest $600 million to make housing construction easier

Photo: Jeff McIntosh The Canadian Press Justin Trudeau announced $500 million in low-cost loans in Calgary on Friday for projects using “innovative” construction techniques, including from prefabricated and modular housing manufacturers.

The Canadian Press in Ottawa

4:00 p.m.

  • Canada

The federal Liberal government is planning a $600 million loan and financing package to make housing construction easier and less expensive for homeowners and renters.

Prime Minister Justin Trudeau announced the new measure Friday in Calgary — the latest in a series of pre-budget announcements aimed at winning over young voters.

Mr. Trudeau specified that $50 million will be dedicated to a fund for technology and innovation in residential construction, and an additional $50 million will be aimed at modernizing and accelerating construction, through federal regional development agencies.

An additional $500 million in low-cost loans will support projects using “innovative” construction techniques from prefabricated and modular housing manufacturers and other builders.

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Finance Minister Chrystia Freeland will table the next federal budget on April 16.

Thursday in Winnipeg, Justin Trudeau announced a new $1.5 billion fund to help non-profit organizations acquire more affordable rental housing. This fund will offer 1 billion in loans and 470 million in contributions to various partners so that they can acquire housing and maintain rental prices in the long term.

Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116