City of Toronto receives $471 million from feds to build 11780 new homes over three years

Prime Minister Justin Trudeau announced $471 million in funding through the Housing Accelerator Fund (HAF) in Toronto. The funding is contingent on the city building an additional 11,780 homes over the next three years. The goal is to build 65,000 rent-controlled homes and meet the provincial target of 285,000 homes by 2031. The HAF aims to achieve 100,000 new homes across Canada in the next three years. Toronto has submitted an HAF application outlining various initiatives to create more affordable housing. The announcement took place at a Toronto Community Housing site under construction.