Ottawa promises $ 2.55 million on low-cost loans to build Toronto Rental Houses star-news.press/wp

The federal government promises thousands of low-cost financing to help build thousands of rental housing in Toronto, including more than a thousand cheap units.

Ottawa says that it will provide $ 2.55 million to finance the apartment building loan program to administer the Canadian mortgage and housing corporations.

The city says that money will be building more than 4,800 rental housing, of which at least 1,075 homes will be cheap.

Toronto, on the other hand, said that it will offer almost 235 million dollars in financial incentives, such as relief of development expenses, rates and property tax relief.

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The city has reported that the new low cost loans will accelerate the seven rental projects that are being built at the end of next year.

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Questions are left around Toronto’s “Builder Public Model” at the first housing site

These projects are expected to be included at least 20% rental housing.

Toronto Mayor Olivia Chow said “Landmark Aciple” reduces housing to reduce housing and protect cheap homes for “coming generations”.