In this episode of the Ontario Multifamily Investment Podcast we’re joined by guests Adam Powadiuk and Aaron Cameron from First National. Aaron is mainly involved in running the operations for the commercial group, while Adam works on the sales side focusing on apartments.
As part of the NHS research initiatives, CMHC has published a series of short-term findings in the early years of the Strategy’s implementation.
The NHS is the Government of Canada’s solution to their commitment to reduce the housing needs of 530,000 households across the country by 2028.
The NHS includes several funding programs for constructing new housing supply, funding for repairing and renewing existing affordable housing, resources for community housing providers, and funding for research and innovation.
The National Housing Strategy (NHS) was enacted in 2017, and its implementation is overseen by the Canada Mortgage and Housing Corporation (CMHC).
Several types of rent structures coexist in Ontario, even within the same building. Market rent, affordable rent, and subsidized rent are the most commonly used terms for the various rent structures used across the province, and each is calculated with a different process.
The Ontario Building Code contains accessibility requirements for new buildings and buildings undergoing extensive renovations. These outline the requirements for public areas such as the space required for entrances and hallways, as well as in-unit requirements such as bathroom counter height and hallway width.
The Ontario government recently convened the Ontario Housing Affordability Task Force, meant to address the growing issue of housing needs across the province. Despite the slow decline in housing starts over the past several decades, and the exacerbating effects of the COVID-19 pandemic, 2021 saw a sharp increase in housing starts, which sets an optimistic start to the push to increase Ontario’s housing supply. The Task Force recently published a report outlining 55 recommendations to spur on this progress, with the primary goal being to build 1.5 million new housing units over the next 10 years to close Ontario’s housing gap.
Community revitalization is a common occurrence in areas that are becoming denser and require more housing options, have fallen into disrepair, or are lacking amenities. There have been several methods historically used to achieve revitalization, each with its own set of obstacles and consequences.
The 2022 Federal Budget was recently released, and affordable housing is a clear primary focus. Since 2015, substantial housing investments have been made through the National Housing Strategy, and the federal government plans to invest more than $72 billion into the Strategy by 2028 ($24.2 billion has been invested to date).