Thank you so much.
I remember making that important announcement in your constituency.
Our government is taking concrete actions to protect the most vulnerable Canadians. I'm proud of the fact that our national housing strategy is doing exactly that. We announced a new $4.3-billion Canada community housing initiative, through the national housing strategy, that is helping to protect community-based housing for some 330,000 households across the country. In addition to this, a few weeks ago we announced $118.2 million over seven years through the federal community housing initiative, to support 18,000 units of community housing. This will preserve these units and their affordability and protect the most vulnerable. This is on top of our previous investment of $500 million for the federal community housing initiative, which will protect tenants and stabilize the operations of some 55,000 affordable housing units in federally administered community housing projects.
The co-op sector and the co-op model have worked really well in all parts of Canada, including in Nova Scotia, where the honourable member made that announcement with me. It shows that our national housing strategy is working right across the country from coast to coast to coast. We're tackling the housing needs of Canadians right across the housing spectrum, from those on the street who need a permanent place to call home, to those who need co-op, non-profit and deeply affordable housing, to building more purpose-built rental buildings through the rental construction financing initiative.
We're also enabling more Canadians to access their dream of home ownership through the first-time homebuyer incentive.