The federal government announced funding for a new 16-storey building in Etobicoke on Thursday that will include 259 affordable rental units. According to the government, about 207 of the homes will have rents "at or below 30 per cent of median household income in the area." The development is currently under construction on Warrender Avenue in the federal riding of Etobicoke Centre, where the median household income is about $69,000 before taxes. The project, called Terraces of Princess Gardens, is being funded through the Rental Construction Financing Initiative (RCFI), which is administered through the Canada Mortgage and Housing Corporation. According to Jean-Yves Duclos, minister of children, families and social development, the development in Etobicoke represents the largest-ever investment made through the RCFI in Canada.

Source: CBC News March 14, 2019 17:03 UTC