The Manitoba government is hoping to help more families get the chance to become homeowners with a $1 million investment in affordable homeownership projects announced Wednesday.
The money will go to three affordable home ownership projects—Canadian Mental Health Association Westman Region Inc., SEED Winnipeg Inc., and Manitoba Tip Mitawa Inc.—to provide eligible families financial help with down payments, legal fees, and closing costs, according to the province.
“This investment will make home ownership a reality for dozens of families who may have otherwise thought it was out of their reach,” said Families Minister Scott Fielding in a release. “Our government’s goal is to foster innovative community and private-sector partnerships that promote practical home ownership and create life-changing opportunities for Manitobans, such as the collaboration between the Manitoba Real Estate Association and Assembly of Manitoba Chiefs.”
The province says up to 51 low-to-moderate income households are expected to participate.
Funding for these projects was provided through the federal-provincial Investment in Affordable Housing (IAH) agreement.
In 2016, the governments of Canada and Manitoba announced an expanded commitment to the IAH agreement, representing almost $90 million over two years.
The new funding is in addition to approximately $166 million in joint eight-year funding to help create more affordable housing options in Manitoba.