While it's something, will be interesting to see how this goes.
"The money comes from the federal government's $1 billion rapid housing initiative, which gives funds to municipalities to build around 3,000 new permanent, affordable housing units across the country.
The Canada Mortgage and Housing Corporation (CMHC) will deliver the money under the national housing strategy. The city has about a year to build the units after the agreement is signed.
Hamilton hasn't started its procurement process, but Collins said staff estimate each unit might cost around $330,000 to $340,000 to purchase and construct.
This means just over 30 units for Hamilton, he said."
City gets $10.8M for affordable housing units, but it has to build them fast