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Canada Infrastructure Bank launches Infrastructure for Housing Initiative

By District Energy posted 03-26-2024 16:50




The Canada Infrastructure Bank (CIB) has introduced its Infrastructure for Housing Initiative (IHI), designed to help address the infrastructure constraints which are limiting new housing construction.

The CIB has developed a financing tool for municipalities and Indigenous communities which are committed to building new infrastructure in support of new housing supply. Industry and municipal stakeholders have emphasized that more municipal infrastructure investment is a prerequisite to building more housing. The CIB's new lending product is designed to unlock new housing in a very targeted and specific way.

As an impact investor, CIB is looking to partner on eligible projects which are expected to be primarily new, large-scale enabling infrastructure, including:

  • water: water, wastewater, stormwater, conveyance
  • transportation: roads, bridges and the accompanying civil work
  • transit: electric buses, light-rail transit, stations and terminals
  • clean power: district energy, electricity distribution, storage

IHI will work alongside existing federal supports for housing as part of the broader federal approach to address the housing shortage. The CIB's existing investments are already making an impact in the housing market. As recently announced, CIB committed up to $140 million to the City of Brandon and the Red-Seine-Rat water cooperative located in southeastern Manitoba, which is expected to unlock development of up to 15,000 housing units in these growing communities. Other investment examples which support housing include Lulu Island District Energy, Markham District Energy and the Port Stalashen Wastewater Treatment project.

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