Can housing initiatives in the federal government's 2022 budget help reduce the region's affordable housing wait-list of over 6,000 people?
Minister of Families, Children and Social Development Karina Gould visited Windsor Wednesday to highlight some of the housing initiatives in the budget released last week. She said the government is tackling housing and affordability on many different levels.
"Obviously housing takes time, but it's a whole range of measures that we've put in place. The first one is building units, but then we also have things like the Canada Housing Benefit which supports people in place to help cover the costs of rent," said Gould.
The 2022 budget also introduced a new first-time home buyers savings account which allows individuals to save up to $40,000. A tax credit will be issued for funds going into the account and money withdrawn for the purchase of a new home will not be taxed.
Ami Patel with the Windsor Essex Community Housing Corporation hopes with more housing stock and new ways for people to save there will be less of a need.
"Some of the initiatives in the 2022 budget, the tax-free savings account, people will be able to contribute, they'll be able to grow their savings and hopefully save up for a down payment so our hope is that we do see some relief on the waitlist," said Patel.
The new 145-unit Meadowbrook community housing development is nearing completion and will start taking applications shortly. Families will be able to move into the Forest Glade development in the fall.
Last month, the federal government announced 61 more affordable units that are being built throughout Windsor and Essex County that will be completed by the end of the year.
