NCC Partners with the City of Iqaluit for a Social Housing Initiative
The City of Iqaluit announced that it has entered into agreements with the Canada Mortgage and Housing Corporation (“CMHC”) for its Rapid Housing Initiative and its Co-Investment Fund, which will provide the City $10.7 million of funding for the development of affordable housing units, targeting vulnerable groups, in Iqaluit.
On June 30th, 2021, it was announced by the CMHC that the City of Iqaluit was awarded a Rapid Housing Initiative contribution for $5 Million. Subsequently, the City had applied for an additional $5.7 million in funding through the CMHC Co-Investment Program. This application was recently approved by the CMHC.
The City has worked hard to initiate a framework that would enable the 18-unit social housing project to be completed within the condensed timeframe set by the CMHC. This accelerated framework can be used for future housing development initiatives.
This framework is founded on a partnership group to deliver the project in the timeframe required, which includes:
City of Iqaluit – applicant and project owner
Nunavut Housing Corporation – the ultimate recipient of the funding and operator of the property
NCC Development Limited – the design-builder
Qikiqtaaluk Business Development Corporation – project advisory
Kenny Bell, Mayor of Iqaluit, notes: “This opportunity allows for concrete action to move forward the vision of the Mayor’s Housing Task Force. 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.”
Assisting to address the housing crisis and other infrastructure needs of Nunavut is a key priority of NCC. As such, NCC is honoured to have been selected as the design-builder for this much-needed social housing initiative.