Universities offered low-cost loans to build student housing

Canada’s Housing Minister Sean Fraser said post-secondary institutions will be able to apply for low-interest loans to build student housing starting this fall, reports The Canadian Press.

The federal government is tweaking an existing programme to make universities, colleges, non-profits and private developers eligible for low-cost financing to build residences on and off campus. “Canada needs more student housing and we’re going to help build it,” Fraser said at a news conference on Monday 29 January.

The Apartment Construction Loan Program was topped up with an additional CA$15 billion (US$11 billion) in the fall, bringing the total funding available to CA$40 billion. Monday’s announcement did not add more money to the funding pool available.
Full report on The Gazette site