New Affordable Rental Housing for Chilliwack Families

CHILLIWACK, BC, Jan. 29, 2021 /CNW/ -A Every Canadian deserves aA safe and affordableA place to call home. Thanks toA investments made by the Government of Canada, residents ofA ChilliwackA will soon have access to more stable rental housing options.Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced that the federal government is financing $5 million to help construct new multi-unit residential housing located at 9194 Edward Street in Chilliwack.This project by Karvin Developments Ltd., is receiving financing through CMHC's Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by Canada Mortgage and Housing Corporation (CMHC) that supports rental housing construction projects to encourage a stable supply of rental housing for middle-class families in expensive housing markets.A  With a vacancy rate of 1.3%, The Locale is a 4-storey multi-residential building that will provide Chilliwack with 28-units of much needed rental housing. The project is located in a premium location in downtown Chilliwack, close to numerous commercial and retail shops, as well as close to public transit points.