Canada Putting $1 Billion Behind Modular Construction

Overview

Canada is putting $1 billion behind modular construction. The post says modular construction is growing in many national and international segments.

Organizations

• Modular Building Institute
• Canadian Mortgage Housing Corporation

Program

The Rapid Housing Initiatives (RHI) is intended to support affordable housing for vulnerable people and populations.

Planned actions

• Develop new underwriting guidelines.
• Provide capital contributions under two streams for faster delivery of affordable housing.
• Support the creation of up to 3,000 new permanent affordable housing units.
• Cover modular housing construction.
• Cover the acquisition of land.
• Cover the conversion or rehabilitation of existing buildings to affordable housing.

Timeline

• Commit all funds before March 31, 2021.
• Ensure housing is available within 12 months of agreements.

Key point

The post says modular construction is a primary focus for execution in these new opportunities.