The City of Iqaluit has signed an agreement worth more than $10 million with the Canada Mortgage and Housing Corporation (CMHC) that will bring up to 18 new housing units to the city.
“When committed partners come together, great things can be achieved. It is only through joint collaboration amongst all levels of government and the private sector that we will be able to solve Iqaluit’s housing crisis,” Iqaluit Mayor Kenny Bell said in a Nov. 30 announcement.
On June 30, CMHC announced the City of Iqaluit was a recipient for the Rapid Housing Initiative, which makes up $5 million of the $10.7 million. The other half is coming from the CMHC’s Co-Investment Fund.
To deliver this initiative, the municipality formed a partnership group with the Nunavut Housing Corporation, NCC Investment Group and the Qikiqtaaluk Business Development Corporation.