Canada Infrastructure Bank supporting new residential district energy
March 28, 2024 | By HPAC Magazine
CIB introduced its Infrastructure for Housing Initiative, designed to help address the infrastructure constraints limiting new housing construction, including cleaner energy solutions.
(source: CNW Group/Canada Infrastructure Bank)
The Canada Infrastructure Bank (CIB) has introduced its Infrastructure for Housing Initiative (IHI), designed to help address the infrastructure constraints 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, and the Bank is looking to partner on large-scale infrastructure projects, including:
- clean power: district energy, electricity distribution, storage
- water: water, wastewater, stormwater, conveyance
- transportation: roads, bridges and the accompanying civil work
- transit: electric buses, light-rail transit, stations and terminals
The initiative will help municipalities and Indigenous communities by sharing in risks related to the timing of community growth, linking repayments to the number of housing units expected to increase as housing growth materializes.
IHI will work alongside existing federal supports for housing as part of the broader approach to address the housing shortage.
“Through our new lending initiative, we are committed to working with municipalities to unlock new housing developments,” said Ehren Cory, CEO, Canada Infrastructure Bank, in a media release.
