New Affordable Housing Project Open in Peterborough
Posted by: Toronto Real Estate Admin / Category: News Bulletin
PETERBOROUGH, April 20, 2007 — Canada’s New Government, the government of Ontario and the City of Peterborough held a ribbon-cutting ceremony today to mark the official opening of Maryland Place, a conversion project that provides 23 affordable rental units for singles and seniors under the Canada – Ontario Affordable Housing Program.
Peterborough Member of Parliament Dean Del Mastro, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development; Jeff Leal, MPP for Peterborough, on behalf of the Honourable John Gerretsen, Ontario’s Minister of Municipal Affairs and Housing; and Peterborough Mayor Paul Ayotte attended today’s ceremony.
“This project will help many lower-income individuals and seniors in Peterborough access quality, affordable housing,” said MP Del Mastro. “Canada’s New Government is very proud to have made a significant contribution to this project, which will provide safe and supportive housing for those who need it in this community.”
“Affordable housing is a priority for the McGuinty government,” said MPP Leal. “We are proud to work with our federal and municipal partners to support initiatives such as Maryland Place, which will provide long-term affordable housing for singles and seniors with lower incomes in Peterborough. Today’s project is another great example of collaboration between all levels of government.”
The $1.04 million project, including $462,714 from the Canada – Ontario Affordable Housing Program, will provide 23 apartments at 716 Maryland Avenue in the City of Peterborough. The project is sponsored by the Maryland Place Inc., and the units will be occupied by lower-income individuals and seniors.
Federal and provincial funding was complemented by more than $278,000 in municipal financial incentives.
“This is more good news for our community,” said Mayor Paul Ayotte. “We appreciate the support of the senior levels of government to make affordable housing projects such as Maryland Place a reality. The City looks forward to working with our private sector partners to address the pressing need for housing for lower-income people.”
“By partnering with governments we were able to convert the former Convent of the Sisters of the Precious Blood into 23 affordable apartments,” said David Rosefield of Maryland Place Inc. “It’s exciting to see tenants moving in and we look forward to the long-term operation of this affordable housing project in our community.”
In Peterborough, the Government of Canada, through the Canada Mortgage and Housing Corporation (CMHC), has contributed $8.4 million through the Canada – Ontario Affordable Housing Program.
The new Canada – Ontario Affordable Housing Program Agreement 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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For more information, please visit: http://www.mah.gov.on.ca
Article source: http://www.cmhc.ca/en/corp/nero/nere/2007/2007-04-20-1430.cfm
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