Feds, Ontario commit $1.4B for affordable housing for low-income families

The federal and provincial governments say they will be investing a combined $1.4 billion in a bid to help low-income families in Ontario with housing costs.

Representatives from both governments, as well as city officials, were on hand in the east end of Toronto Thursday morning to make the announcement.

According to a news release, money will be provided directly to families through the Canada Housing Benefit. 

The money will be distributed to families who have been identified by the provincial government as being in need, including domestic violence survivors, seniors, people with disabilities, and Indigenous communities. 

Those families are already predetermined by the provincial government, said Stephen Clark, Ontario's minister of municipal affairs and housing.

The investment is set to run from 2020-2028 with each family receiving about $2,500 but that number is subject to change based on individual needs. 

Clark also confirmed the families are free to decide how they use the money. 

"We're giving people more flexibility and more choice," he said. 

Ontario is the first province to work with the federal government on this project.

The move is part of a larger federal commitment that will see Ottawa work with all of the provinces and territories to help low-income Canadians find suitable homes.

The commitment is likely welcome news in Toronto, a city dealing with sky-high purchase prices, an extreme shortage of rental units and crumbling social housing.