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OSHAWA, June 29, 2007 — The historic former Oshawa House Hotel was officially opened today after extensive renovations converted the downtown building into 32 energy-efficient affordable studio apartments. The renovation of the former hotel at 66 King Street West was a joint venture between owner Khanna Holdings Inc. and Summers Co., who oversaw development of the project.

The project received federal funding of $250,000 through Canada Mortgage and Housing Corporation’s (CMHC) Rental and Rooming House Residential Rehabilitation Assistance Program to renovate and upgrade the residential component of the building.

“Canada’s New Government is committed to making affordable housing available across Canada for those who need it most,” said Member of Parliament Colin Carrie, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development. “These new units will allow lower income families and individuals in Oshawa to live in safe, quality housing at an affordable cost and start a new page in their lives”.

The City of Oshawa provided interest-free loans for façade improvements and building code upgrades.

“City Council is committed to redefining our downtown core. Renovations to existing buildings, such as King Centre, new facilities including the General Motors Centre and Durham Consolidated Courthouse, and other downtown initiatives will continue to revitalize the heart of our city,” said Oshawa Mayor John Gray. “King Centre is unique for many reasons. This historic building houses both commercial and residential units and supports a green and sustainable community.”

The renovations to the 169 year-old building include kitchen and bathroom upgrades, new electrical and plumbing systems, insulation upgrades, the installation of fire code drywall and repairs to exterior walls. The building is entirely heated and cooled through a new ground-source geothermal heating and cooling system.

“The opportunity with CMHC inspired a vision to take a building that was run-down and of little value and transform it into an attractive, affordable and desirable place to live. If you build things right, more sophisticated and trendy, whether its apartments or condos, you will attract great tenants and buyers and this changes the downtown environment and greatly improves the economics of the area,” said Rick Summers, Co-Owner, Summers Co.

CMHC’s Rental and Rooming House Residential Rehabilitation Assistance Program (RRAP) provides landlords with financial assistance to repair a rental or rooming house property to a minimum level of health and safety.

As Canada’s national housing agency, Canada Mortgage and Housing Corporation (CMHC) draws on over 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

For more information, call 1-800-668-2642.

For more information please contact:

Rick Summers
Summers Co.
Business Tel.: 905-436-1977
Cell: 905-261-0771

Beth Bailey
Communications and Marketing
Canada Mortgage and Housing Corporation
Tel.: 416-218-3355

James Anderson
Executive Assistant, Mayor’s Office
905-436-5647
janderson@oshawa.ca

See related speech

Left to right: Bill and Ravi Khanna, Khanna Holdings Inc.; Jerry Ouellette, MPP for Oshawa; Oshawa Mayor John Gray; Colin Carrie, MP for Oshawa; Oshawa Regional Councillor Robert Lutczyk; Lillian Kraly; Oshawa Regional Councillor John Henry; Angela Penhale, Summers Co.; Rick Summers, Summers Co.; Phil Coulter.

Article source: http://www.cmhc.ca/en/corp/nero/nere/2007/2007-06-29-1400.cfm

Tags: Toronto House, Toronto Housing, Toronto Realtor

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