The federal Liberals plan to spend $1 billion over the next six months so cities and other housing providers can keep people from becoming homeless.
The rapid-housing funds can be used to buy properties being sold because of the COVID-19 pandemic, or to build new modular units.
The Liberals expect the program will create 3,000 new affordable housing units across Canada.
They want all the funds to be committed by the end of March 2021.
The funding will be available to municipalities, provinces, territories, Indigenous governing bodies and agencies and non-profit organizations.
Social Development Minister Ahmed Hussen says Ottawa will provide an additional $237 million to the federal homelessness strategy for pandemic-related expenses.
On Vancouver Island, both provincial and municipal governments have purchased properties throughout the pandemic in an effort to move more people off the streets amid the COVID-19.
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