The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, alongside the Honourable Kamal Khera, Minister of Seniors, and Arielle Kayabaga, Member of Parliament for London, announced $10 million in federal funding for the BlackNorth Homeownership Bridge Program. This investment will help deliver an estimated 200 affordable homes to first-time homeowner Black families in the Greater Toronto Area within the next four years under the Shared Equity Mortgage Provider fund (SEMP). For more information, please see this news release.
Key Information:
● In Canada, diversity is a fact, but inclusion is a choice, and that includes addressing the unique needs Black Canadians face in accessing affordable housing.That’s why our government is providing $10 million to help deliver 200 affordable homes for Black Canadians in the GTA who are first-time homeowners.
● This funding through the Shared Equity Mortgage Providers (SEMP) fund will support the BlackNorth Homeownership Bridge Program
● This program will support homeowners in building strength and generational wealth through their home and create a revolving fund using the second mortgage to create ownership opportunities for multiple generations of homeowners, while maintaining affordability through it all.
● This is another way our government’s National Housing Strategy is addressing the systemic inequities in the housing sector, and ensuring no Canadian is left behind.
