BRAMPTON, Ont. — Prime Minister Justin Trudeau says the federal government is pouring nearly $120 million into affordable rental units in Brampton, Ont.

The money is set to be used to build a 26-storey building that has been described as being "multi-residential" and "energy-efficient."

More than 300 families are expected to be able to live in these units.

The investment is part of the federal government's plan to "build stronger communities, create jobs, and grow our middle class, while supporting vulnerable Canadians and helping end homelessness."

The announcement is part of the Rental Construction Financing Initiative, which supports new rental housing builds across Canada.

The initiative aims to provide low-cost, insured loans to developers and cities where more rental housing is needed.

This report by The Canadian Press was first published July 19, 2021.

The Canadian Press