Governments of Canada and Ontario Celebrate New Affordable Housing in London
Posted by: Toronto Real Estate Admin / Category: News Bulletin
LONDON, ONTARIO, June 25, 2010 — Ground was broken today for 52 new affordable housing rental units for seniors living on low income in London. The project received over $5.8 million in funding from the federal and provincial governments.
Ed Holder, Member of Parliament for London West, 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 Khalil Ramal, Member of Provincial Parliament for London – Fanshawe, on behalf of Jim Bradley, Ontario’s Minister of Municipal Affairs and Housing, along with Anne Marie DeCicco-Best, Mayor of London, made the announcement.
“Our government continues to invest in affordable housing here in London as well as across Canada to improve the quality of life for those who need it most. These new rental options will help seniors in our community access safe and affordable housing that meets their needs,” said MP Ed Holder. “This funding also creates an important source of well paying jobs”.
“The McGuinty government is committed to meeting the housing needs of the people in our communities who need it the most,” said MPP Khalil Ramal. “These new affordable rental units are going to make a positive difference in the lives of the seniors living here, while construction is generating new jobs, and supporting local businesses here in London.”
“This is an important day for London, as we celebrate another important step in addressing our community’s comprehensive housing needs,” said Mayor Anne Marie DeCicco-Best. “By working together with other levels of government to build Residenza Italia, London is ensuring diverse and affordable housing options are available to our senior citizens on fixed incomes.”
“Our sincerest appreciation goes out to each level of government who has strongly supported us to see this project to fruition,” said Carla Garagozzo, President, Italian Seniors’ Project. “Thank you for making it possible for seniors who enjoy a common heritage to share their latter years with friends in a setting that is affordable and functional in this great country we live in.”
The 52 apartment units at Residenza Italia, located at 1109 Hamilton Road received more than $5.8 million in funding. The federal and provincial funding is complemented by more than $1.2 million in municipal financial and property tax incentives.
The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends. Canada’s Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure. Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless.
In 2009, Ontario allocated a combined federal and provincial investment of $704 million for the renovation of social housing, and $540 million for the creation of new affordable housing. This investment is part of the Open Ontario plan, and is generating an estimated 23,000 jobs over the course of the program, while strengthening local economies across the province. To date, Ontario has approved more than $465 million for construction-ready projects, which will provide affordable housing for low-income families, senior citizens, and persons with disabilities, and $351.9 million for repairs benefiting some 148,000 social housing units. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.
More information on this and other measures in Canada’s Economic Action Plan can be found at www.actionplan.gc.ca. 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 or visit www.cmhc.ca/housingactionplan.
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For more information visit: www.mah.gov.on.ca.
See related speech
Ed Holder, Member of Parliament for London West, announces almost $3 million in federal funding under Canada`s Action Plan for Residenza Italia, a 52-unit project for seniors living on a low income.
Article source: http://www.cmhc.ca/en/corp/nero/nere/2010/2010-06-25-1100.cfm