Construction Begins on Affordable Housing Projects in London
Posted by: Toronto Real Estate Admin / Category: News Bulletin
LONDON, August 14, 2008 — The Government of Canada, the Government of Ontario, and the City of London today celebrated the start of construction for 78 new affordable rental units in two London projects. These projects are supported by over $5 million in funding through the Canada – Ontario Affordable Housing Program.
Bev Shipley, Member of Parliament for Lambton – Kent Middlesex, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development; Khalil Ramal, MPP for London – Fanshawe, on behalf of the Honourable Jim Watson, Minister of Municipal Affairs and Housing; Mayor Anne Marie DeCicco-Best, on behalf of the City of London; and affordable housing sponsors Robert Sexsmith of Huron Pines Housing Co-op Inc. and Greg Playford of Homes Unlimited Inc. attended the ceremony.
“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said MP Shipley. “Here in London, these new rental units will help low and moderate income families, singles and individuals with special needs access safe, affordable and quality housing, helping them to build a stronger future.”
“Our government knows we can better serve Ontario’s most vulnerable by combining our resources and experience,” said MPP Ramal. “We are pleased to work with our federal and municipal partners to increase the quality and availability of affordable housing in London.”
Today’s announcement recognized two affordable housing projects in London, with a combined total project cost of $10.6 million:
- A 26-unit project soon to be under construction. The $3.9 million project, sponsored by Huron Pines Housing Co-Op Inc., received $1.8 million under the Canada – Ontario Affordable Housing Program. The units will be occupied by individuals, families and people with special needs.
- A 52-unit project soon to be under construction. The $6.8 million project, sponsored by Homes Unlimited Inc., received $3.6 million under the Canada – Ontario Affordable Housing Program. The units will be occupied by families and individuals with special needs.
The federal and provincial allocations to the projects were complemented by over $1.3 million in municipal financial incentives.
“This is an extremely important day for London, as we celebrate another important step in our community’s fight against homelessness,” said Mayor DeCicco-Best. “By working together with all levels of government to address the growing national need for more affordable housing, we will be able to positively change the lives of those most vulnerable in our community, and across the country.”
The Canada – Ontario Affordable Housing Program 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.
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Article source: http://www.cmhc.ca/en/corp/nero/nere/2008/2008-08-14-1300.cfm
Tags: Toronto House, Toronto Housing, Toronto Realtor