March 18, 2021 – Government of Canada: Every Canadian deserves a safe and affordable place to call home. Thanks to investments made by the Government of Canada, residents of Charlottetown will soon have access to more stable rental housing options.
Ahmed Hussen, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), and Sean Casey, Member of Parliament for Charlottetown, announced $13.75 million to help construct 60 residential units located at 5 Towers Road in Charlottetown.
Geneva Place, a four-storey multi-residential building by Geneva Place Inc., is receiving the low-cost loan through the Government of Canada’s Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by CMHC that supports rental housing construction projects.
The program encourages a stable supply of rental housing to support middle-class families facing expensive housing markets.
Read the full news release here