E.B.Dungey Realty Ltd. Brokerage

CAMBRIDGE, ONTARIO, March 13, 2017 — A groundbreaking ceremony was held today for new affordable rental homes in Cambridge. A 34-unit apartment complex will be built at 175 Hespeler Road to give residents of Cambridge a safe, affordable place to call home.

Bryan May, Member of Parliament for Cambridge, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, along with Kathryn McGarry, Member of Provincial Parliament for Cambridge, on behalf of the Honourable Chris Ballard, Ontario’s Minister of Housing and the Minister Responsible for the Poverty Reduction Strategy, were on hand for the announcement.

Quick facts:

• 175 Hespeler Road received more than $4.2 million in funding from the federal and provincial governments for this new development through the Investment in Affordable Housing agreement.
• This funding will help to build a brand new, five-storey facility at 175 Hespeler Road.
• The Hespeler Road facility will be located in a mixed use neighbourhood near parks, schools, restaurants and other amenities. It is also within a short walk of a rapid transit station.
• Today’s announcement also celebrated the opening of two IAH units for clients with mental health challenges at Preston Arbour in Cambridge.
• The federal and provincial governments combined to contribute $240,000 for the development of the IAH units at Preston Arbour.

Quotes:

“This project is vital for the people of Cambridge. It creates jobs in our community, and more importantly, it creates homes for those who need them most. As a Member of Parliament, I’ve spent a lot of time studying poverty and affordable housing with my parliamentary committee, and I know that projects like these make a significant impact in the lives of the residents who will call this building home.”
— Bryan May, Member of Parliament for Cambridge

“When people have a roof over their heads, they can concentrate on other things in their lives, like raising a family or securing long-term employment. That’s why our governments are investing $4.3 million in new affordable housing to create more low-cost housing in Cambridge and provide families with a safe, affordable place to live, work and raise their family”
— Kathryn McGarry, Member of Provincial Parliament for Cambridge

“Since 2001, over 2,300 affordable housing units have been created under the Region’s Affordable Housing Strategy through partnerships the Region has forged with local municipalities, community housing proponents and the Provincial and Federal government. Home Concept Property Management and Thresholds are examples of the continued partnerships formed to leverage much needed affordable housing across our growing community.”
— Regional Councillor Geoff Lorentz, Chair of the Community Services Committee, Waterloo Region

“With over 30 years of experience delivering affordable housing in the community, we continue to commit ourselves to addressing the growing need for good quality, affordable rental housing. Apartment buildings such as this, especially in a station area on a major transit route, are vital to our efforts to provide suitable, well located affordable housing for low income members of our community.”
— Steve Garrison, General Manager, Home Concept Property Management and Housing Cambridge

Associated links:

• Canada Mortgage and Housing Corporation (CMHC) has been helping Canadians meet their housing needs for more than 70 years. As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of CMHC’s operations. For more information, please call 1-800-668-2642.
• Investing in affordable housing programs is part of Ontario’s plan to create jobs, grow the economy and help people in their everyday lives. Since 2003, the province has committed more than $5 billion in funding for affordable housing, which has helped support more than 22,000 new affordable rental housing units, more than 335,000 repairs and improvements to social and affordable housing units and rental and down payment assistance to more than 93,000 households in need. These investments complement the commitments made through Ontario’s recent Long-Term Affordable Housing Strategy update, and support the province’s goal of ending chronic homelessness by 2025. For more information on affordable housing in Ontario, visit ontario.ca/affordablehousing.

Stay connected:

• Follow CMHC on Twitter, YouTube, LinkedIn and Facebook.
• Follow Ontario’s Ministry of Housing on Twitter.

Media contacts:

Émilie Gauduchon
Press Secretary
Office of Minister Duclos
819-654-5546
Emilie.Gauduchon@hrsdc-rhdcc.gc.ca

Wilbur McLean
Public Affairs
Canada Mortgage and Housing Corporation
416-218-3331
wmclean@cmhc-schl.gc.ca

Laura Gallant
Press Secretary
Minister Ballard’s Office
416-585-6333
laura.gallant@ontario.ca

Conrad Spezowka
Communications
Ministry of Housing
416-585-7066
conrad.spezowka@ontario.ca

Article source: http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2017/2017-03-13-1315.cfm

TORONTO, March 10, 2017 — The Toronto Real Estate Board strongly urges against the
imposition of another provincial tax on foreign buyers, which would be in addition to
existing provincial taxes on home buyers, including the land transfer tax that they already
pay. An additional tax on foreign buyers would do little to address the real problem facing
the GTA housing market; a supply shortage which is at more than a 15-year low.

The consideration to impose this tax follows on the heels of a statement last year by the
Ontario Finance Minister not to follow the lead of British Columbia, which imposed a 15
per cent land transfer tax surcharge on foreign buyers in July 2016.

“When the idea of introducing a foreign buyer tax in Ontario surfaced last year, TREB
cautioned it would be a knee-jerk reaction before knowing whether a problem existed.
There was little in the way of reliable data on the issue. To better understand the foreign
buyer issue, TREB commissioned an Ipsos survey on foreign buying activity in the GTA,
the results of which show that concerns about the effect of foreign buyers on the GTA
market are widely overblown,” said TREB President, Larry Cerqua.

The survey, conducted in the fall of 2016, found that only an estimated 4.9 per cent of
GTA transactions, in which TREB REALTOR® Members acted on behalf of a buyer,
involved a foreign purchaser. The vast majority (80 per cent) of foreign buyers purchased
a home as a residence, a home for another family member to live in, or as an investment
to rent out to a tenant. TREB is continuing its research in this area.

“The fact that most foreign buyers are looking to purchase a home for their family, for
personal use, or to provide a tight rental market with much needed supply is something to
be encouraged, as these actions are essential to Ontario’s economic success. We can’t
forget that immigration is the key driver of population growth in the GTA and, therefore, a
key driver of economic growth as well. Imposing a tax on foreign buyers will not have the
desired effect of cooling the housing market and could create adverse effects on the
national, provincial and GTA economies. It will do little to correct the real issue impacting
housing affordability, which is the lack of available housing supply,” continued Cerqua.

Demand for ownership housing has grown over the past year, up against a shortage of
listings. New listings entered into TREB’s MLS® System in February 2017 were down on a
year-over-year basis by 12.5 per cent. Similarly, TREB’s average months of inventory
trend for February was at one month, while in many neighbourhoods across the GTA,
inventory can now be measured in weeks rather than months.

“We can’t lose sight of the fact that we have experienced a persistent decline in the
inventory of homes available for sale in the GTA. This issue has been acknowledged by
provincial and local governments in Ontario, but now policy action is required. Demandfocussed
policy changes will not provide long-term solutions for an affordable housing
market,” said TREB Director of Market Analysis Jason Mercer.

“The provincial government should work with municipalities and related industry
stakeholders to look at ways in which the supply of housing could be increased, including,
potentially revisiting land use designations in built-up areas to allow for a broader array of
home types to be built, streamlining the development approvals process, streamlining the
permit process, and examining ways to incentivize land owners to develop,” said Cerqua.

TREB has provided a more in-depth analysis on the housing market, including foreign
buying activity and the lack of adequate housing supply in its recently released Market
Year in Review Outlook Report 2017 found at TREBHome.com.

Looking forward, TREB is committed to further research on foreign buying activity, housing
supply and other issues impacting the housing market. TREB believes that housing policy
decisions should be based on a solid foundation of research and analysis.

Article source: http://www.trebhome.com/market_news/release_market_updates/news2017/nr_foreign_buyers_031017.htm

OTTAWA, ONTARIO, March 3, 2017 — The federal and provincial governments are proud to help fund new affordable rental homes for women in the Ottawa area.

Cornerstone Housing for Women will use funding from the Investment in Affordable Housing to build a 42-unit facility at 373 Princeton Ave., redeveloping an existing complex into bachelor unit apartments and ensuring women in need of housing support will have a safe, affordable place to call home.

The Honourable Catherine McKenna, Minister of the Environment and Climate Change, and Member of Parliament for Ottawa Centre on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, along with Yasir Naqvi, Attorney General of Ontario and Member of Provincial Parliament for Ottawa Centre on behalf of the Honourable Chris Ballard, Ontario’s Minister of Housing and the Minister Responsible for the Poverty Reduction Strategy, were on hand for the announcement.

Quick facts:

• Cornerstone Housing for Women received $3,975,000 in federal funding and $1,325,000 in provincial funding for this project through the Canada-Ontario Investment in Affordable Housing (IAH) agreement.
• Cornerstone Housing for Women owns and operates four housing developments for women in Ottawa, totalling 68 units of affordable housing and an emergency women’s shelter.
• The new property is expected to open in spring 2018.
• Since the 1930s, the Sisters of Jeanne D’Arc operated a private school and affordable housing for women at 373 Princeton Ave. which will now be redeveloped and operated by Cornerstone Housing for Women.

Quotes:

“Our Government is investing in affordable housing here in Ottawa and across Canada to help and improve the quality of life for those who need it most. Thanks to the combined efforts of our partners, we are able to give a helping hand to women in need, and in doing so we are contributing to the economic and social well-being of the entire community.”
— Catherine McKenna, Minister of the Environment and Climate Change, and Member of Parliament for Ottawa Centre

“What a perfect way to pass on the ‘Mother House’ from the Sisters to our community. Cornerstone’s new development will act as a refuge and support system to women who need it in our community. Much like the work of the Sisters before, this facility will help women transition out of crisis and back into our community. I am proud that the Ontario government, through the Investment in Affordable Housing Program, has invested $1.3 million in this project. Congratulations to Cornerstone for this monumental achievement – we are a better and safer community because of all of your hard work!”
— Yasir Naqvi, Attorney General of Ontario and Member of Provincial Parliament for Ottawa Centre

“The City of Ottawa greatly appreciates the contributions of both our federal and provincial partners towards this important project for Cornerstone Housing for Women. These investments are helping us make strides to prevent homelessness by ensuring that more individuals and families in Ottawa have a safe and inclusive place to live, along with the support they need in order to remain housed. The City is committed to continue working with the federal and provincial governments, as well as our partners and community organizations, towards the ultimate goal of putting an end to chronic homelessness.”
— Jim Watson, Mayor, City of Ottawa

“We are delighted that Cornerstone’s next affordable housing initiative will be located in the beautiful, safe Westboro neighbourhood. This is a community which is committed to diversity and welcome, and we are grateful for the warm welcome we have received from neighbours as we have been preparing for our move into 373 Princeton.”
— Sue Garvey, Executive Director, Cornerstone Housing for Women

Associated links:

• Canada Mortgage and Housing Corporation (CMHC) has been helping Canadians meet their housing needs for more than 70 years. As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of CMHC’s operations. For more information, please call 1-800-668-2642.
• Investing in affordable housing programs is part of Ontario’s plan to create jobs, grow the economy and help people in their everyday lives. Since 2003, the province has committed more than $5 billion in funding for affordable housing, which has helped support more than 22,000 new affordable rental housing units, more than 335,000 repairs and improvements to social and affordable housing units and rental and down payment assistance to more than 93,000 households in need. These investments complement the commitments made through Ontario’s recent Long-Term Affordable Housing Strategy update, and support the province’s goal of ending chronic homelessness by 2025. For more information on affordable housing in Ontario, visit ontario.ca/affordablehousing.

Stay connected:

• Follow CMHC on Twitter, YouTube, LinkedIn and Facebook.
• Follow Ontario’s Ministry of Housing on Twitter.

Media contacts:

Émilie Gauduchon
Press Secretary
Office of Minister Duclos
819-654-5546
Emilie.Gauduchon@hrsdc-rhdcc.gc.ca

Laura Gallant
Press Secretary
Minister Ballard’s Office
416-585-6333
laura.gallant@ontario.ca

Wilbur McLean
Public Affairs
Canada Mortgage and Housing Corporation
416-218-3331
wmclean@cmhc-schl.gc.ca

Conrad Spezowka
Communications
Ministry of Housing
416-585-7066
conrad.spezowka@ontario.ca

Article source: http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2017/2017-03-03-1145.cfm