CanEquity Mortgage Canada
Canadian mortgage rates,
mortgage calculator & news.

Canadian Mortgage News

April 2005 National News Archive


Related Links:
National Archive
2005 Archive
January 2005
February 2005
March 2005
April 2005
May 2005
June 2005
July 2005
August 2005
September 2005
October 2005
November 2005
December 2005

CanEquity Mortgage News RSS 2.0 Feed

CanEquity Mortgage News Atom Feed

About RSS and Atom Feeds

Portable Document Format Printable Version Page d'accueil franšais

NORTEP Student Apartments Celebrates Opening

LA RONGE, Saskatchewan, April 29, 2005 — The Government of Canada, Province of Saskatchewan and private investors have joined forces to contribute to the opening of 48 affordable housing units in La Ronge for students.

The Northern Teachers Education Program/Northern Professional Access College (NORTEP/NORPAC) student apartments were opened today in La Ronge at a ceremony marking the graduation of students from the program. The project is targeted to house adult students and their families with low to moderate incomes.

"This investment from the Government of Canada will enable the NORTEP/NORPAC students to continue their studies in safe, affordable accommodations," said Ralph Goodale, Minister of Finance, on behalf of Joe Fontana, Minister of Labour and Housing. "We are committed to helping local organizations develop housing and homelessness solutions that meet the needs of their community."

NORTEP/NORPAC is an educational organization that provides university programs to northerners, especially students of aboriginal ancestry, to pursue careers in teaching as well as obtain three years of Arts and Science, which will lead to further studies other than education. A proposal to the Centenary Affordable Housing Program (CAHP) was received from the NORTEP Board to buy and rejuvenate two apartment blocks in La Ronge consisting of 48 units at 450 Bedford Road.

"The project supports the goals of our HomeFirst strategy by helping people in the North live as independently as possible," said Culture, Youth and Recreation Minister Joan Beatty, on behalf of Community Resources and Employment Minister and Minister Responsible for Disability Issues, Joanne Crofford. "As part of the strategy our government will develop 2,000 additional affordable housing units through the Centenary Affordable Housing Program by 2008."

"This is an excellent example of what can be accomplished with dedicated staff, a committed Board of Governors, and the co-operation with various levels of governments, financial institutions, fundraising and community and student support," said Bruce Ruelling, NORTEP Board Chairman.

CMHC is providing $129,821 in funding. The project is also receiving $908,242 in funding from other provincial departments, $460,000 in funding from fundraising, $350,000 in funding from the Northern Lights Community Development Corporation and $150,000 from a vendor mortgage. NORTEP is providing the remaining in the form of cash and financing for the total cost of $2.6 million

CAHP is funded under the Canada-Saskatchewan Affordable Housing Agreement. It provides $33 million in federal funding for affordable housing, matched by Saskatchewan, municipalities and other parties. With these matching contributions, a total of $66 million will be allocated by 2007 – 08 for affordable housing.

For further information, contact:

Jason Cobb
Canada Mortgage and Housing Corp.
(403) 515-2903

Peter Graham
Director of Communications
Office of Minister Fontana
(819) 953-5646

Greg Urbanoski
Communications Branch
Saskatchewan Community Resources and Employment
(306) 787-4011

Bruce Ruelling
(306) 822-2114

News source: Canada Mortgage and Housing Corporation (CMHC)


Top of page