Ottawa Toronto promises $ 2.55B in cheap loans to set up rented houses

The federal government is a billions of information to help the construction of thousands of renters in Toronto, including thousands of more than a thousand favorable units.

Ottawa, the apartment for the Canadian Mortgage and Housing Corporation will provide $ 2.55 billion to ensure $ 2.55 billion.

The city will go to the building side of more than 4,800 renters, and at least 1075 of them will be a suitable apartment.

Meanwhile, Toronto says it will offer about $ 235 million with financial promotion, such as development costs, fees and property taxes.

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The city says that newly declared low-precious loans will allow you to accelerate the seven rent housing projects to be built by the end of next year.

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The first supportive housing area of ​​Toronto’s “Social Constitutional model” remains such breaks

At least 20 percent of these projects are expected to include favorable rental houses.

Toronto Mayor Olivia Chow, “Landmark Agreement” will build an apartment and “help reduce obstacles to provide favorable houses for generations for generations.”