Construction Set to Begin on New Affordable Housing in Waterloo Region
Posted by: Toronto Real Estate Admin / Category: News Bulletin
KITCHENER – WATERLOO, July 3, 2009 — The Government of Canada, the Province of Ontario and the Region of Waterloo today announced $9.4 million to fund three 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 Newo Holdings Ltd., MennoHomes Inc. and Supportive Housing of Waterloo to build 79 units of affordable housing for low-income seniors, families and individuals with disabilities.
Peter Braid, Member of Parliament for Kitchener – Waterloo, and Harold Albrecht, Member of Parliament for Kitchener Conestoga, 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); John Milloy, Minister of Training, Colleges and Universities, Minister of Research and Innovation and Member of Provincial Parliament for Kitchener Centre, and Leeanna Pendergast, Member of Provincial Parliament for Kitchener – Conestoga, on behalf of the Honourable Jim Watson, Ontario Minister of Municipal Affairs and Housing; along with Ken Seiling, Chair, Region of Waterloo, 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 Braid. “With these investments in Kitchener – Waterloo, 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.”
“When it comes to building safe and strong communities, it takes the efforts of many to achieve success. It takes partnerships at all levels of government to get real results,” added MP Albrecht.
“New housing initiatives add significant support to the McGuinty government’s Poverty Reduction Strategy,” said MPP Milloy. “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.”
“Today’s funding continues our government’s commitment to address the housing needs of Ontario’s most vulnerable populations,” said MPP Pendergast. “Investment in affordable housing improves job prospects for residents and is a fundamental support for individuals and families trying to break the cycle of poverty.”
“The extension of the Affordable Housing Program will assist our local partners in creating much needed affordable and supportive housing for seniors, homeless and low-income families in Waterloo Region,” said Ken Seiling, Regional Chair. “It will help bring the Region of Waterloo closer to achieving its goal of creating at least 2,000 new units of sustainable affordable housing by 2013.”
Ontario is moving quickly to implement this new funding with a total of 23 “quick start” projects totalling 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.
Media Inquiries:
For more information visit: www.ontario.ca/housing.
See related speeches
Funding Announcement for Affordable Housing in Kitchener – Waterloo.
Speaker: Peter Braid
Funding Announcement for Affordable Housing in Kitchener – Waterloo.
Speaker: Harold Albrecht
Article source: http://www.cmhc.ca/en/corp/nero/nere/2009/2009-07-03-1100b.cfm
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