E.B.Dungey Realty Ltd. Brokerage

MISSISSAUGA, ONTARIO, March 28, 2014 — The governments of Canada and Ontario, and the Region of Peel, celebrated the official opening of 116 affordable housing rental units at Creditvale Mills today. The project is supported by close to $5.9 million in funding through the Canada-Ontario Affordable Housing Program. The construction of this project created up to 290 jobs in Mississauga and is providing more affordable housing options for local seniors, families and persons with special needs.

Bob Dechert, Parliamentary Secretary to the Minister of Justice and Member of Parliament for Mississauga-Erindale, on behalf of the Honourable Candice Bergen, Minister of State (Social Development); Harinder Takhar, Member of Provincial Parliament for Mississauga — Erindale on behalf of the Honourable Bill Mauro, Ontario’s Minister of Municipal Affairs and Housing; Emil Kolb, Region of Peel Chair and Hazel McCallion, Mayor of the City of Mississauga, made the announcement.

“Our Government’s investment in Mississauga is a testament to our commitment to increasing the number of affordable housing options for all citizens,” said Parliamentary Secretary Dechert. “These apartments provide modern conveniences for residents and provide easier access to local services.”

”Our Government is committed to providing safe, affordable housing to those who need it most,” said MPP Takhar. “Creditvale Mills is a testament to what we can achieve when all levels of government work together.”

“Thanks to our funding partnership with senior levels of government, Creditvale Mills is by far the largest affordable housing development we’ve built in the Region,” said Regional Chair Kolb. “With 250 units of housing serving families and seniors in Peel, this is a significant achievement that is helping to meet a growing need for housing in our community.”

“The City of Mississauga contributed land, governments worked together to provide funding, and community partners like Wisma Mega Indah partnered with the Region of Peel to help with program operations,” said Mayor McCallion.

Creditvale Mills is located at 1535 and 1555 South Parade Court, in Mississauga. The project received more than $5.8 million to build 116 affordable housing units through a joint investment under the Canada-Ontario Affordable Housing Program Agreement. The federal and provincial funding is complemented by $17.3 million in municipal financial incentives from the Region of Peel and a donated parcel of land from the City of Mississauga worth more than $1 million. As a result of this funding partnership, the Region of Peel will also be able to provide rent-geared-to-income subsidy for 100 units.

The units are part of a two-building, 250-unit project, that is comprised of a family building and a seniors building operated by the Region of Peel and Wisma Mega Indah Inc. respectively. Individual units come with central air conditioning, open concept kitchen-living rooms and accessibility features, and the buildings feature on-site laundry facilities, underground parking, common areas, bicycle storage and an outdoor recreational area.

“Wisma helped create this project and brought the land owner and developer, United Lands, together with the Region of Peel,” said Kim Setiadi, President of Wisma Mega Indah Inc. “Wisma is proud of the commitment of everyone involved and we are grateful for this opportunity at Creditvale Mills to continue serving our community.”

Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), will invest approximately $2 billion in housing. Of this amount, $1.7 billion will be spent in support of close to 600,000 households living in existing social housing. In Ontario, this represents an estimated 237,950 households. The remaining funding supports housing-related activities and affordable housing programs, including the Investment in Affordable Housing (IAH). These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people. Economic Action Plan 2013 continues this commitment with a federal investment of more than $1.25 billion over five years to renew the Investment in Affordable Housing to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour. Close to 177,600 households across Canada are no longer in housing need as a result of funding provided under the IAH from April 1, 2011 to December 31, 2013.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2003, Ontario’s funding commitment of nearly $3 billion is the largest affordable housing initiative in the province’s history. Ontario is supporting the creation of over 17,000 affordable rental housing units, making more than 263,000 repairs and improvements to social and affordable housing units, and providing rental down payment assistance to over 81,000 households in need. 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 also a key component of Ontario’s Poverty Reduction Strategy. To find out more about affordable housing in Ontario, visit ontario.ca/housing. For more information about housing in the Region of Peel, visit www.peelregion.ca/housing.

To find out more about how the Government of Canada and Canada Mortgage and Housing Corporation are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642.

Media contacts:

Yanni Dagonas
Office of the Minister of Municipal Affairs and Housing
416-585-6853

Erin Recoskie
Communications and Marketing
Canada Mortgage and Housing Corporation
416-250-3263

May Nazar
Communications
Ministry of Municipal Affairs and Housing
416-585-7066

Lisa DiMenna
Region of Peel
905-791-7800, ext.: 4519

For more information, visit:

www.ontario.ca/housing
www.peelregion.ca/housing

Article source: http://www.cmhc.ca/en/corp/nero/nere/2014/2014-03-28-1400.cfm

Tags: Toronto House, Toronto Housing, Toronto Realtor

Leave a Reply