QUEENSVILLE, June 25, 2007 — Canada Mortgage and Housing Corporation’s (CMHC) popular Residential Rehabilitation Assistance Program (RRAP) contributed $589,000 to help repair and improve accessibility of a Queensville rest home.

The Valley View Rest Home is a 33-bed community residence with 24-hour support and supervision for adults over 18 years of age, including active seniors and people with mental health issues or addictions.

“Canada’s New Government recognizes the importance of safe, accessible housing,” said the Honourable Peter Van Loan, Leader of the Government in the House and Minister for Democratic Reform, on behalf of the Honourable Monte Solberg Minster of Human Resources and Social Development. “This funding has allowed for the rejuvenation of the rest home to the benefit of their tenants.”

Valley View received funding through RRAP for Persons with Disabilities, which offers assistance to homeowners and landlords in order to improve residential accessibility for low-income individuals with disabilities. Funding was also received under Rooming House RRAP which offers assistance to landlords, with affordable rents for low-income people, to undertake mandatory repairs that bring property up to minimum health and safety levels.

“The renovation has created an environment that is safe and accessible for our clients,” said Enos Stewart, Executive Director of Valley View Rest Homes Inc. “Our clients with disabilities now have greater access to the amenities provided by our facility.”

CMHC has been Canada’s national housing agency for over 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country. For more information, call 1-800-668-2642.

A ribbon-cutting ceremony marks the re-opening of the Valley View Rest Home in Queensville Ontario. From left to right: Peter Friedmann, General Manager, CMHC Ontario Region, Peter Van Loan, MP York-Simcoe, Ken Crossfield, Valley View Rest Home Inc. and Enos Stewart, President and Executive Director Valley View Rest Home Inc.

For media inquiries contact:

Arlene Etchen
Canada Mortgage and Housing Corporation
416-209-8345

See Related Speech

Article source: http://www.cmhc.ca/en/corp/nero/nere/2007/2007-06-25-1000.cfm

CLINTON, ONTARIO, September 28, 2012 — The official opening of 31 new affordable rental housing units for seniors living on low income was held today in Clinton. The project received more than $3.8 million in funding from the federal and provincial governments. The construction of this project created up to 78 jobs in Clinton.

Ben Lobb, Member of Parliament for Huron – Bruce, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); the Honourable Kathleen Wynne, Ontario’s Minister of Municipal Affairs and Housing; along with Bernie MacLellan, Warden, Huron County made the announcement.

“I am pleased to be back at this site to celebrate the official opening of County View Seniors’ Apartments,” said MP Lobb. “Our Government is proud to have invested in affordable housing in Clinton and across the country to help create jobs and improve the quality of life for seniors.”

“Our seniors deserve the dignity to live in a home that is safe, stable and affordable,” said Minister Wynne. “This project is an example of our government’s Long-Term Affordable Housing Strategy and our commitment to making affordable housing more accessible for Ontarians.”

Set on 13 acres of grounds, the 31-unit apartment building located at 77722C London Road in Clinton is equipped with green energy initiatives funded through the Renewable Energy Initiative program. A solar pre-heat system was installed for hot water, and all apartments contain energy efficient appliances, individually controlled hot water heating and air conditioning, plus dedicated power chair receptacles.

The federal and provincial funding is complemented by more than $1.1 million in municipal financial incentives.

The Government of Canada, through CMHC, will invest more than $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of almost 605,000 households living in existing social housing. In Ontario, this represents some 237,750 households. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2009, the provincial government has provided nearly$183 million to build new rental housing units for low-income seniors and persons with disabilities. Ontario’s overall investment of over $2.5 billion has translated into the construction and repair of more than 270,000 housing units and the provision of 35,000 rent supplements for Ontario families on fixed incomes. The province’s Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario.

Affordable housing is a key component of Ontario’s Poverty Reduction Strategy. Download a copy of the Government of Ontario’s Long-Term Affordable Housing Strategy. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.

To find out more about how the Government of Canada and Canada Mortgage and Housing Corporation are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642.

Media inquiries:

Leslie Pawlowski
CMHC
416-250-3297

Marian Ngo
Office of Minister Finley
819-994-2482

Kelly Baker
Office of Minister Wynne
416-585-6842

Barbara Hall
Huron County
519-482-8505, ext.: 4254

For more information visit:

www.ontario.ca/housing

See related speech

Article source: http://www.cmhc.ca/en/corp/nero/nere/2012/2012-09-28-1000.cfm

TREB President’s Column as it appears in the Toronto Star.

September 26, 2012 — From searching out the toniest new condo projects to having an ear to the ground for the latest up-and-coming neighbourhoods, Torontonians are indisputably preoccupied with real estate. And this is good for our city.

Studies have shown that real estate transactions create jobs and economic growth in many sectors. The Altus Group estimates that Multiple Listing Service (MLS) housing transactions created $19 billion nationwide in spin-off activity and more than 155,000 jobs annually between 2008 and 2010.

The allure of real estate has also contributed to our city’s high ranking in a range of independent international surveys. From being one of the most livable cities, to one of the world’s most promising economic engines, Toronto consistently achieves top marks and attracts buyers from around the world.

Our real estate fixation has also paid off in community revitalization. Ours is a city of neighbourhoods and — from the reaches of the 905 region to the heart of the downtown core — we tend to be fiercely proud of them. This is a positive thing: Studies have shown that people with strong connections to family and friends in their community are consistently happier than those without social ties.

When it comes to turning an average street corner into the heart of a revitalized neighbourhood, Greater Toronto realtors play an important role. Through tireless research, marketing skills and networking activity, realtors can help turn a humdrum area into a desirable community. Their work has been pivotal to breathing new life into areas like Liberty Village, Regent Park and Ossington Village. Their efforts aren’t limited to existing downtown neighbourhoods. With their access to a database of new construction projects, Greater Toronto realtors also play a key role in promoting new developments throughout the city, planting the seeds that in time grow into strong communities.

The ability to make enthusiasm for a community contagious, to advise you as to the specific plans on every corner, and to connect clients with the right residential and commercial developers involves considerable commitment. Realtors make their work seem effortless because they are genuinely passionate about life in our city. They are often the first in line to support elements that are woven into the fabric of every successful neighbourhood, like minor league sports, street festivals and community cleanups.

Getting an early lead on an up-and-coming community can result in a very profitable long-term investment. Helping you to find an area’s hidden potential is where your realtor comes in. If you are interested in taking advantage of the opportunities that wait in the next emerging Toronto neighbourhood, talk to a Greater Toronto realtor and visit TorontoRealEstateBoard.com.

Follow TREB on www.twitter.com/TREBhome, www.Facebook.com/TorontoRealEstateBoard and www.youtube.com/TREBChannel

Article source: http://www.torontorealestateboard.com/market_news/president_columns/pres_star_col/index.htm

ST. CATHARINES, June 28, 2007 — Canada’s New Government, the Government of Ontario, Niagara Region, the City of St. Catharines and Niagara Regional Housing held a plaque-dedication ceremony today to mark the official opening of a new supportive housing development in St. Catharines. Genesis Court, funded under the Canada – Ontario Affordable Housing Program, provides 40 affordable rental units to single people and families.

Rick Dykstra, Member of Parliament for St. Catharines, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development; Jim Bradley, MPP for St. Catharines, on behalf of the Honourable John Gerretsen, Minister of Municipal Affairs and Housing; Niagara Regional Chair Peter Partington; and St. Catharines Mayor Brian McMullan attended the ceremony.

“Canada’s New Government is working to ensure funding is available for important projects such as this one which addresses the need for affordable housing in communities across the country,” said MP Dykstra. “The opening of Genesis Court will help those families and individuals in St. Catharines who are working towards building a better and stronger future.”

“Genesis Court is where residents gain immediate stability and the tools to build a better future,” said Bradley. “The McGuinty government is committed to funding projects that provide safe and supportive housing to those who need it. By working with partners like Niagara Regional Housing and Bethlehem Projects of Niagara, we are investing in a brighter future for St. Catharines.”

The $4.8 million project, including $1.2 million from the Canada – Ontario Affordable Housing Program, will provide 40 apartments in St. Catharines. The Government of Canada also funded an additional $200,000 towards the purchase of the property through the National Homelessness Initiative. Sponsored by the Bethlehem Projects of Niagara, the units will be occupied by families and single people with lower incomes. 

“On behalf of Niagara Regional Council, I congratulate Bethlehem Projects on the opening of Genesis Court,” said Partington. “This community provides much needed housing for vulnerable members of our society and will be a valuable component of the revitalization of downtown St. Catharines. I am proud of the contribution the Niagara Region made to this project and commend all those who contributed to making it a reality.”

“Since its inception, Genesis Court has been an example of St. Catharines’ community at its best.  Motivated by compassion for those who cannot access adequate housing, community partners joined with all orders of government to provide a solution, said Mayor McMullan. “Genesis Court will not only improve the lives of its tenants, it will enhance the character and diversity of our downtown core.”

“I am proud to be associated with Bethlehem Projects and the help and services we offer people who are disadvantaged,” said Tom Kelcey, Chair of Bethlehem Housing Steering Committee.” The completion of Genesis Court brings great satisfaction and the combination of moderate rents and quality facilities make it unequalled in the city. A dream has become a reality for our many tenants as a result of the investment of our government and community partners.”

The federal and provincial allocation is complemented by more than $731,000 in municipal financial incentives.

The new Canada – Ontario Affordable Housing Program Agreement comprises a commitment of $301 million from each of the two senior levels of government.  In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for 20,000 households in Ontario.

For further information please contact:

For more information visit

http://www.mah.gov.on.ca

See Related Speech

Article source: http://www.cmhc.ca/en/corp/nero/nere/2007/2007-06-28-1430.cfm

VAUGHAN, June 29, 2007 — A new affordable housing apartment complex providing 60 apartments for low-income seniors officially opened today. Representatives of Canada’s New Government, the Government of Ontario, the Regional Municipality of York and the City of Vaughan came together to celebrate the official opening of Blue Willow Terrace at 133 Fieldstone Drive in Vaughan.

The Honourable Greg Sorbara, Minister of Finance and MPP for Vaughan-King-Aurora, on behalf of the Honourable John Gerretsen, Minister of Municipal Affairs and Housing; York Region Chairman and CEO Bill Fisch; City of Vaughan Mayor Linda Jackson; and representatives of the federal government attended the ceremony.

“Canada’s New Government is proud to support Canadian seniors who have spent a lifetime building this great country,” said the Honourable Jim Flaherty, Minister of Finance and Regional Minister for the GTA, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development. “Affordable housing projects like Blue Willow Terrace will ensure Canada’s seniors are able to retire with the comfort, dignity and independence they deserve.”

“The McGuinty government clearly recognizes the importance of providing new affordable housing in Ontario,” said Minister Sorbara. “We are proud to work with all levels of government to help seniors in Vaughan who need our support.”

The $11.4 million project, which includes more than $1.7 million from the Canada-Ontario Affordable Housing Program, was sponsored by York Region. York Region invested an equity contribution of almost $6 million, and provided a financing arrangement of $3.7 million that will be re-paid through tenant rental income. The City of Vaughan also provided a long-term land lease to York Region at no cost. Forty-two units are being supported by Ontario’s Strong Communities Rent Supplement Program, with a contribution of over $200,000 per year.

“Blue Willow Terrace is an important addition of affordable rental housing for seniors in York Region, and we have to do more” said York Region Chairman and CEO Bill Fisch. “I am pleased that this new building includes so many different features that benefit seniors, as well as important energy conservation initiatives.”

“As the fastest-growing segment of Canadian society, seniors make a major contribution to our community,” said City of Vaughan Mayor Linda Jackson. “Blue Willow Terrace, and other affordable housing projects, help to improve the quality of life of our seniors and allow them to continue to be active in our community, to the benefit of all.”

The Canada-Ontario Affordable Housing Program Agreement comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for some 20,000 households in Ontario.

For further information please contact:

For more information visit:

http://www.mah.gov.on.ca
http://www.york.ca
http://www.city.vaughan.on.ca

Special guests participate in ribbon-cutting event to celebrate the official opening of Blue Willow Terrace, a new senior’s affordable housing project and active living centre in Vaughan.

Photo (from left to right): Peter Friedmann, General Manager, CMHC Ontario Business Centre; Rose, Resident, Blue Willow Terrace; Linda Jackson, Mayor of Vaughan; the Honourable Greg Sorbara, MPP of Vaughan-King-Aurora; Bill Fisch, Regional Chairman and CEO of the Regional Municipality of York; the Honourable Maurizio Bevilacqua, MP, Vaughan; Mario Ferri, Vaughan Regional Councillor; Joyce Frustaglio, Vaughan Regional Councillor.

Article source: http://www.cmhc.ca/en/corp/nero/nere/2007/2007-06-29-0930.cfm

TREB President’s Column as it appears every Friday in the Toronto Sun’s Resale Homes and Condos section.

September 21, 2012 — From coast to coast, most of us agree on the many benefits of home ownership. Today, more Canadians own their own home than ever before, perhaps because few investments are as hard working as real estate; it serves double duty, offering you shelter and the potential for long-term profit.

While Greater Toronto REALTORS® believe firmly in the advantages of home ownership, we are also quick to espouse the benefits of education, because like real estate, few other investments offer such worthwhile returns.

Choosing a career in real estate involves a lifelong commitment to learning – in our province REALTORS® are required to earn 24 Continuing Education credits every two years – and it’s a requirement that we embrace.

In fact, many Greater Toronto REALTORS® go well beyond the provincial mandate because in the incredibly dynamic Greater Toronto Area real estate market there is no such thing as the status quo.

Virtually all of the factors that affect your transaction are constantly changing, and it’s our responsibility to ensure that as a client, you’re equipped with current, insightful information.

You can count on your REALTOR® for example, to offer valuable advice on the current state of the market. Real estate is a local business in which conditions can vary from neighbourhood to neighbourhood. 

If you’re buying a home in the city of Toronto, we’ll advise you to budget an extra $6,000 on average, for the municipal portion of the double Toronto Land Transfer Tax. We have been working for a number of years incidentally, to help city councillors see that this is an unfair levy on homebuyers.

To help you keep money in your wallet we can also counsel you on government programs like the RRSP Home Buyers’ Plan under which generally, you can withdraw up to $25,000 ($50,000 for a couple) from your registered retirement savings plan to buy or build a qualifying home as a first time home buyer.

In order to qualify for a mortgage you’ll need to meet specific criteria and since it often changes, we can advise you on how to plan for a successful outcome.

Before you choose a home it’s important to consider usage limitations that result from factors like municipal zoning restrictions and condominium bylaws. Your REALTOR® can help ensure you’re prepared on this front as well.

Given that every transaction is unique, it is also vital to consult a REALTOR® so that your interests are protected through the use of appropriate real estate forms and clauses. 

Keeping pace with all of the information that is required to offer you sound advice means that
Greater Toronto REALTORS® routinely incorporate Continuing Education sessions into their schedules.

We are so committed to learning in fact, that we offer four scholarship grants and an opportunity for an internship at our professional association, the Toronto Real Estate Board, on an annual basis.

For a glimpse into the many ways a Greater Toronto REALTOR’s® knowledge can help you, be sure to visit www.TorontoRealEstateBoard.com

Ann Hannah is President of the Toronto Real Estate Board,
a professional association that represents 34,000 REALTORS®
in the Greater Toronto Area.

Follow TREB on www.twitter.com/TREBhome, www.Facebook.com/TorontoRealEstateBoard and www.youtube.com/TREBChannel

Article source: http://www.torontorealestateboard.com/market_news/president_columns/pres_sun_col/index.htm

OSHAWA, June 29, 2007 — The historic former Oshawa House Hotel was officially opened today after extensive renovations converted the downtown building into 32 energy-efficient affordable studio apartments. The renovation of the former hotel at 66 King Street West was a joint venture between owner Khanna Holdings Inc. and Summers Co., who oversaw development of the project.

The project received federal funding of $250,000 through Canada Mortgage and Housing Corporation’s (CMHC) Rental and Rooming House Residential Rehabilitation Assistance Program to renovate and upgrade the residential component of the building.

“Canada’s New Government is committed to making affordable housing available across Canada for those who need it most,” said Member of Parliament Colin Carrie, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development. “These new units will allow lower income families and individuals in Oshawa to live in safe, quality housing at an affordable cost and start a new page in their lives”.

The City of Oshawa provided interest-free loans for façade improvements and building code upgrades.

“City Council is committed to redefining our downtown core. Renovations to existing buildings, such as King Centre, new facilities including the General Motors Centre and Durham Consolidated Courthouse, and other downtown initiatives will continue to revitalize the heart of our city,” said Oshawa Mayor John Gray. “King Centre is unique for many reasons. This historic building houses both commercial and residential units and supports a green and sustainable community.”

The renovations to the 169 year-old building include kitchen and bathroom upgrades, new electrical and plumbing systems, insulation upgrades, the installation of fire code drywall and repairs to exterior walls. The building is entirely heated and cooled through a new ground-source geothermal heating and cooling system.

“The opportunity with CMHC inspired a vision to take a building that was run-down and of little value and transform it into an attractive, affordable and desirable place to live. If you build things right, more sophisticated and trendy, whether its apartments or condos, you will attract great tenants and buyers and this changes the downtown environment and greatly improves the economics of the area,” said Rick Summers, Co-Owner, Summers Co.

CMHC’s Rental and Rooming House Residential Rehabilitation Assistance Program (RRAP) provides landlords with financial assistance to repair a rental or rooming house property to a minimum level of health and safety.

As Canada’s national housing agency, Canada Mortgage and Housing Corporation (CMHC) draws on over 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

For more information, call 1-800-668-2642.

For more information please contact:

Rick Summers
Summers Co.
Business Tel.: 905-436-1977
Cell: 905-261-0771

Beth Bailey
Communications and Marketing
Canada Mortgage and Housing Corporation
Tel.: 416-218-3355

James Anderson
Executive Assistant, Mayor’s Office
905-436-5647
janderson@oshawa.ca

See related speech

Left to right: Bill and Ravi Khanna, Khanna Holdings Inc.; Jerry Ouellette, MPP for Oshawa; Oshawa Mayor John Gray; Colin Carrie, MP for Oshawa; Oshawa Regional Councillor Robert Lutczyk; Lillian Kraly; Oshawa Regional Councillor John Henry; Angela Penhale, Summers Co.; Rick Summers, Summers Co.; Phil Coulter.

Article source: http://www.cmhc.ca/en/corp/nero/nere/2007/2007-06-29-1400.cfm

VAUGHAN, ON, September 14, 2012 — The Government of Canada, the Government of Ontario, and The Regional Municipality of York celebrated the official opening of Reena Community Residence, a 60-unitaffordable housing project in Vaughan. The project is supported by $4.2 million in federal and provincial funding through the Canada – Ontario Affordable Housing Program.

The Honourable Lisa Raitt, Minister of Labour on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); Reza Moridi, Member of Provincial Parliament for Richmond Hill, on behalf of the Honourable Kathleen Wynne, Minister of Municipal Affairs and Housing; Bill Fisch, York Regional Chair and CEO; and Maurizio Bevilacqua, Mayor of the City of Vaughan, made the announcement.

“The Reena Community Residence in Vaughan is a concrete example of how Harper’s Government is committed to making communities stronger through affordable housing projects”, said Minister Raitt. “The federal investment of almost $1.6 million helped to create new jobs and stimulated the local economy, while providing access to safe, affordable homes for those who need it most, including seniors and families.”

“The McGuinty government is pleased to work with Reena in York Region to support the local community and improve the quality of life for these new residents,” said MPP Reza Moridi. “This project will help to achieve our government’s goal of ensuring all Ontarians have a safe and affordable place to call home and provide up to 150 jobs for Ontario’s workforce, helping to strengthen the economy.”

“It is critical that residents have access to the supports needed to live and thrive in the community,” said York Region Chairman and CEO Bill Fisch. “This project is a testament to our commitment to helping residents and families find housing to meet their unique needs.”

“Reena Community Residence is a welcome addition to the City of Vaughan,” said City of Vaughan Mayor Maurizio Bevilacqua. “These units fulfill an important need in our community, by providing innovative supports and outreach programs for residents who need it most.”

Reena Community Residence, a 60-unit building located at 49 Lebovic Campus Drive South in Vaughan received $4.2 million through a joint investment under the Canada – Ontario Affordable Housing Program Agreement and $2.6 million from the Ministry of Community and Social Services. The federal and provincial funding is complemented by $1.1 million in municipal financial incentives.

Reena is a non-profit social service agency dedicated to the integration and inclusion of people with developmental disabilities into the community. In addition to residential supports, Reena provides educational and recreational programming as well as support programs to enhance life and work skills of developmentally disabled individuals.

“The Reena Community Residence is a shining example of how community agencies, working closely with government, can achieve an accepting and inclusive community,” said Sandy Keshen, President and CEO of Reena. “The new residence enables Reena to expand its commitment to integrate individuals with a disability into the community within the framework of Jewish culture and values.”

The Government of Canada, through CMHC, will invest more than $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of almost 605,000 households living in existing social housing. In Ontario, this represents some 237,750 households. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2009, the provincial government has provided nearly $183 million to build new rental housing units for low-income seniors and persons with disabilities. Ontario’s overall investment of over $2.5 billion has translated into the construction and repair of more than 270,000 housing units and the provision of 35,000 rent supplements for Ontario families on fixed incomes. The province’s Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario.  

Affordable housing is a key component of Ontario’s Poverty Reduction Strategy. Download a copy of the Government of Ontario’s Long-Term Affordable Housing Strategy. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642.

Media contacts:

Beth Bailey
Canada Mortgage and Housing Corporation
416-218-3355

Kelly Baker
Office of Minister Wynne
416- 585-6842

Marian Ngo
Office of Minister Finley
819-994-2482

Lisa Sposito
The Regional Municipality of York
905-830-4444, ext.: 4106

www.ontario.ca/housing

www.york.ca

Article source: http://www.cmhc.ca/en/corp/nero/nere/2012/2012-09-14-1030.cfm

GTA REALTORS Release Mid-Month Resale Figures

September 18, 2012 — Greater Toronto Area (GTA) REALTORS reported 2,544 transactions through the TorontoMLS system in the first 14 days of September. This result was down by 15 per cent compared to the 2,995 sales reported during the same period in 2011.

The combination of stricter lending guidelines, rising home prices and the added upfront cost associated with the land transfer tax in the City of Toronto resulted in a slower pace of sales during the summer of 2012 compared to a year ago, said Toronto Real Estate Board (TREB) President Ann Hannah.

The average selling price for sales during the first two weeks of September was $496,786 representing an annual rate of increase of more the 9.5 per cent. Average selling prices were up for both low-rise and high-rise home types, including condominium apartments sold in the 416 area code.

Price growth continued to be strongest for low-rise home types during the first two weeks of September. This segment of the market has been very tight, with months of inventory remaining low from a historic perspective, said Jason Mercer, TREBs Senior Manager of Market Analysis.

TorontoMLS Sales
Average Price  By Home Type September 1 – 14, 2012

Sales

Average Price

416

905

Total

416

905

Total

Detached

295

975

1,270

$805,308

$563,739

$619,851

Yr./Yr. % Change

-20%

-7%

-10%

17%

6%

9%

Semi-Detached

92

153

245

$603,700

$397,205

$474,746

Yr./Yr. % Change

-14%

-23%

-20%

24%

6%

15%

Townhouse

115

299

414

$406,521

$351,281

$366,625

Yr./Yr. % Change

-3%

-9%

-7%

5%

7%

7%

Condo Apartment

382

176

558

$352,851

$287,467

$332,228

Yr./Yr. % Change

-32%

-17%

-28%

5%

-2%

3%

For information about Buyer Representation Agreements
(BRA) visit www.BRAFirst.ca

For Media/Public Inquiries: Mary Gallagher, Senior
Manager Media Relations.

Toronto
Real Estate Board 1400 Don Mills Road Toronto, ON M3B 3N1, Office: (416)
443-8158, Email:maryg@trebnet.com

Greater Toronto REALTORS are passionate about their work.
They adhere to a strict Code of Ethics and share a state-of-the-art Multiple
Listing Service. Serving over 34,000 Members in the Greater Toronto Area,
the Toronto Real Estate Board is Canadas largest real estate board. Greater
Toronto Area open house listings are available on www.TorontoRealEstateBoard.com

Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2012/nr_mid_month_0912.htm

HAMILTON, ON, September 14, 2012 — The Government of Canada, the Government of Ontario, and the City of Hamilton celebrated today the official opening of the Good Shepherd Square, a 156-unit affordable housing rental project. The Good Shepherd Square is supported by $10.5 million in funding through the Canada – Ontario Affordable Housing Program.

David Sweet, Member of Parliament for Ancaster – Dundas – Flamborough – Westdale, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); and the Honourable Kathleen Wynne, Ontario’s Minister of Municipal Affairs and Housing; along with Robert Bratina, Mayor of the City of Hamilton; and Brother Tom Liss, President of Good Shepherd Non-Profit Homes, made the announcement.

“Today’s event demonstrates what we can achieve when we work together,” said MP Sweet. “Our Government is committed to supporting Canadian families and communities, but it takes the efforts of many and partnerships at all levels to get real results.”

“Improving access to safe affordable housing provides a solid foundation for securing employment, raising families and building strong communities,” said Minister Wynne. “I know this project will make a difference in Hamilton and improve the quality of life for the residents of Good Shepherd Square.”

“The Good Shepherd has distinguished itself over many years in Hamilton, and now with the opening of the Good Shepherd Square it continues to make our community stronger, with this 156-unit project that provides essential housing and support to its residents”, said Mayor Bratina. “I commend the Good Shepherd for their efforts and achievements that have benefited so many people in our community, and as a shining example of leadership, dedication, and good will.”

The 156 units located at 398 King Street West received $10.5 million through a joint investment under the Canada – Ontario Affordable Housing Program Agreement. The federal and provincial funding is complemented by more than $7.6 million in municipal financial incentives. The Good Shepherd Square is comprised of three buildings built around a communal green space. The site offers women’s services, seniors’ supportive housing, multiple residential housing, and a wellness centre, as well as office space for Good Shepherd Centre.

“Good Shepherd Square is the culmination of what we have learned about serving the needs of the homeless and the vulnerable over the more than fifty years that we have worked in Hamilton”, said Brother Tom Liss, President of Good Shepherd Non-Profit Homes. “We have learned that if you provide a dignified, uplifting place for folks to make a home, they live a healthier, more rewarding life. Thank you to all who have supported this wonderful endeavor.”

The Government of Canada, through CMHC, will invest more than $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of almost 605,000 households living in existing social housing. In Ontario, this represents some 237,750 households. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2009, the provincial government has provided nearly$183 million to build new rental housing units for low-income seniors and persons with disabilities. Ontario’s overall investment of over $2.5 billion has translated into the construction and repair of more than 270,000 housing units and the provision of 35,000 rent supplements for Ontario families on fixed incomes. The province’s Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario.

Affordable housing is a key component of Ontario’s Poverty Reduction Strategy. Download a copy of the Government of Ontario’s Long-Term Affordable Housing Strategy. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642.

Media contacts:

Angelina Ritacco
CMHC
416-218-3320

Kelly Baker
Office of Minister Wynne
416- 585-6842

Marian Ngo
Office of Minister Finley
819-994-2482

Alan Whittle
Good Shepherd Centre
905-528-5877, ext.: 3322

Deanna Levy
City of Hamilton
905-546-2424, ext.: 4225

For more information visit: 

www.ontario.ca/housing           
www.hamilton.ca
www.goodshepherdcentres.ca

See related speech

Article source: http://www.cmhc.ca/en/corp/nero/nere/2012/2012-09-14-1000.cfm