Housing plan looks to close equality gap; CMHC head
OTTAWA — The head of the federal agency crafting a national housing strategy says the plan will be far more ambitious than just building homes and is looking to close the equality gap between the haves and have-nots.
In a speech Thursday, Evan Siddall, CEO of the Canada Mortgage and Housing Corp., said the forthcoming plan would increase housing supply — up to 80,000 new affordable rental units, for instance — grow the economy and potentially double overall spending with help from the private sector.
Evan Siddall said CMHC aims to use $5 billion earmarked in the 2017 federal budget to stimulate over $16 billion of investments over 11 years in affordable housing, including increases in CMHC direct lending of $8 billion and $2.9 billion of matching co-investments from housing providers, governments and the private sector.
The extra $10.9 billion, if it were to come to fruition, would be above the $11.2 billion package the Liberals unveiled in their second budget.


