Construction Set to Begin on New Affordable Housing in Peterborough
Posted by: Toronto Real Estate Admin / Category: News Bulletin
PETERBOROUGH, July 3, 2009 — The Government of Canada, the Province of Ontario and the City of Peterborough today announced $7.9 million to fund eight construction-ready projects.
The funding was made available as a result of a $1.2-billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement, which include funding through Canada’s Economic Action Plan and by the Government of Ontario. The federal and provincial governments are contributing equally to this overall investment.
Today’s announcement recognized the successful application by Otonabee South Monaghan, Peterborough Housing Corporation, the TVM Group, ECE Living, Brock Street Mission, Peterborough Housing Corporation in Lakefield and Peterborough Community Housing Development to build 71 units of affordable housing for low-income seniors, families and individuals with disabilities.
Dear Del Mastro, Member of Parliament for Peterborough, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); and Jeff Leal, Member of Provincial Parliament for Peterborough, on behalf of the Honourable Jim Watson; Ontario Minister of Municipal Affairs and Housing, along with Paul Ayotte, Mayor of the City of Peterborough, made the announcement today.
“This Government is working hard to support Canadians during these challenging economic times and we are moving aggressively to ensure Canada’s Economic Action Plan is implemented rapidly,” said MP Del Mastro. “With these investments in Peterborough, we are making an important difference in the lives of some of our community’s most vulnerable citizens. Low-income seniors, families and persons with disabilities will soon have access to quality, affordable housing and services to meet their specific needs, while remaining close to their families and friends.”
“New housing initiatives add significant support to the McGuinty government’s Poverty Reduction Strategy,” said MPP Leal. “This first wave of funding will lead to construction by September and we will continue to work with our municipal partners to ensure more units are built during the life of this program.”
“This is wonderful news from the Province of Ontario. We are very aware of the pressing need for more affordable rental housing for low-income seniors and persons with disabilities in our area, and this announcement marks the beginning of a new cycle of construction. Non-profit and private sector developers have stepped up to the plate, and have committed to start their projects by the fall. Construction jobs will result, and homes will be built — a win-win situation for the local economy.” said Mayor Ayotte.
Ontario is moving quickly to implement this new funding with a total of 23 “quick start” projects totaling over $52.2 million — all of which will improve access to affordable housing for low-income families, seniors and persons with disabilities. It will also create jobs and strengthen local economies. To find more about affordable housing in Ontario, visit www.mah.gov.on.ca.
Last fall, the Government of Canada committed more than $1.9 billion over the next five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.
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. For more information on Canada’s Economic Action Plan, call 1-800-O Canada or visit www.actionplan.gc.ca.
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For more information visit: www.ontario.ca/housing
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Article source: http://www.cmhc.ca/en/corp/nero/nere/2009/2009-07-03-1130.cfm
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