The 2021 Budget unveiled on April 19th includes a road map for Canada’s post-pandemic recovery. For additional information contained in Federal Budget 2021, we have included a link to the Canadian Housing and Renewal Association’s news release from yesterday. In addition, we have provided a summary of the various housing-related initiatives contained in Budget 2021 in the below table.
| Funding type | Program/Initiative | Funding allocation | Goal |
| New Investments = $2.5 billion | Rapid Housing Initiative | $1.5 billion beginning in 2021/22, to be spent within 12 months of it being allocated to program applicants | An additional 4,500 units from the 4,700 units announced in Fall Economic Statement 2020 |
| Affordable Housing Innovation Fund | $600 million over seven years, beginning in 2021/22 | Develop an additional 12,700 units | |
| Canada Housing Benefit | $315.4 million over seven years, beginning in 2021/22 | Directed toward women and children fleeing violence | |
| Federal Community Housing Initiative | $118.2 million over 7 years, starting in 2021/22 | Support community housing providers to deliver long-term housing | |
| Northern Housing | $50 million, beginning in 2021/22 | $25 million to each of NWT and Nunavut for creation of 130 new public housing units | |
| Reallocation/advancement of funding = $1.3 billion | Co-Investment Fund | Moving $750 million up to 2021-23 budgets. | Accelerate creation of 3,400 new homes and repair of 13,700 existing homes |
| Co-Investment Fund | $250 million advancement | Will fund 560 units of transitional housing for women and children fleeing violence | |
| Rental Construction Financing Initiative | $300 million will be allocated from existing fund | Support conversion of vacant commercial property into housing (hotels, motels, etc.). Create 800 new market rentals. | |
| New homelessness investments = $613 million | Reaching Home | $567 million over 2 years, beginning in 2022/23 | Maintains 2021/22 funding levels announced in 2020 Fall Economic Statement in response to pressures of Ccovid |
| New veteran’s homelessness program | $45 million over 2 years, beginning in 2022/23 | Pilot program aimed at reducing veteran’s homelessness through rent supps and wrap around services |