In a concerted effort to address Canada’s housing shortage, the Canada Infrastructure Bank (CIB) has introduced the **Infrastructure for Housing Initiative (IHI)**. This novel program is designed to mitigate infrastructure bottlenecks and expedite the construction of new residential developments. The IHI was born out of a tangible need voiced by industry experts and municipal representatives, who underscored the pivotal role of robust municipal infrastructure in expanding housing stock.The program specifically targets municipalities and Indigenous communities, providing them a financial lifeline whereby the CIB assumes a portion of the risk linked to the timing of community expansion. This arrangement ties the program’s repayment terms to the expected upsurge in housing units, aligning financial incentives with the construction of new homes.
Accelerating Housing Availability Through Collaborative Investment
The Canada Infrastructure Bank’s (CIB) **Impact-Driven Investment** strategy includes fostering partnerships for infrastructure projects, vital for catalyzing housing developments. Targeted areas such as water services, transport, and clean energy are ripe for investment, including upgrading heating/cooling systems, transit lines, and water treatments. These projects, particularly beneficial for small communities, offer them access to affordable credit, an option often unavailable due to market limitations or lack of provincial programs.CIB CEO **Ehren Cory** and Housing Minister **Sean Fraser** acknowledge the urgency for innovative solutions in tackling housing challenges. The IHI initiative goes beyond mere funding; it’s a pivotal tool enabling communities to build the necessary local infrastructure to support their expansion.
