Governments of Canada and Ontario Celebrate New Affordable Housing in St. Marys
Posted by: Toronto Real Estate Admin / Category: News Bulletin
ST. MARYS, ONTARIO, June 24, 2011 — The official opening of 12 new affordable rental housing units for seniors living on low-income was held today in St. Marys. The project received $1.44 million in funding from the federal and provincial governments.
Gary Schellenberger, Member of Parliament for Perth-Wellington, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and John Wilkinson, Member of Provincial Parliament for Perth-Wellington, on behalf of the Honourable Rick Bartolucci, Ontario’s Minister of Municipal Affairs and Housing, along with Steve Grose, Mayor of St. Marys and Dan Mathieson, Mayor of Stratford, made the announcement.
“Through Canada’s Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most, including low-income seniors,” said MP Schellenberger. “Funding projects like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create the conditions for long-term growth.”
“Our community believes that seniors need the dignity of an affordable place to call home,” said MPP Wilkinson. For some seniors, this is beyond their reach. Thankfully, the new St. Marys Affordable Housing development will provide local seniors, living on low or fixed income, a new place to call home.
“As the Mayor of the City of Stratford, which has the role of Consolidated Municipal Service Manager, I am pleased to see the completion of another excellent Affordable Housing Project for our region,” said Mayor Mathieson. “The project in St Marys, constructed by Favoured Lands Inc., provides 12 new quality housing options to our citizens. It is indeed a model of intragovernmental cooperation between the federal, provincial and municipal levels of government.”
The 12 affordable rental units are part of a 30-unit project located at 50 Stoneridge Boulevard, which received $1.44 million. Residents began moving in as of June 1st. The federal and provincial funding is complemented by over $110,000 in municipal financial incentives.
The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends. Canada’s Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan includes $2 billion for the construction of new and the renovation of existing social housing, plus up to $2 billion in low-cost loans to municipalities for housing-related infrastructure. Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless.
Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2009, the provincial government has provided nearly $183 million to build new rental housing units for low-income seniors and persons with disabilities. Ontario’s overall investment of over $2.5 billion has translated into the construction and repair of more than 270,000 housing units and the provision of 35,000 rent supplements for Ontario families on fixed incomes. The province’s Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario.
Affordable housing is a key component of Ontario’s Poverty Reduction Strategy. Download a copy of the Government of Ontario’s Long-Term Affordable Housing Strategy. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.
More information on this and other measures in Canada’s Economic Action Plan can be found at www.actionplan.gc.ca. 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.
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For more information visit: www.ontario.ca/housing
Article source: http://www.cmhc.ca/en/corp/nero/nere/2011/2011-06-24-1500.cfm
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