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

Canadian Mortgage News

June 2006 National News Archive

 

Related Links:
National Archive
2006 Archive
January 2006
February 2006
March 2006
April 2006
May 2006
June 2006
July 2006
August 2006
September 2006
October 2006
November 2006
December 2006


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

New Affordable Housing Complex Announced for The Pas

THE PAS, Manitoba, June 16, 2006 — A new 39-unit apartment complex in The Pas will create quality, affordable housing for seniors, people with disabilities and students in Manitoba. The project received support of $1.95 million under the Canada – Manitoba Affordable Housing Initiative (AHI).

The Honourable Diane Finley, Minister of Human Resources and Social Development; and the Honourable Christine Melnick, Minister of Manitoba Family Services and Housing and Minister responsible for the Manitoba Housing and Renewal Corporation made the announcement today.

"Canada's new government is pleased to work in close cooperation with our partners to provide residents of The Pas with safe, affordable housing in their community," said Minister Finley

Total costs for the apartment project are estimated at $3.76 million. Twenty of the new apartments will be designated for low-income households and will receive funding from the AHI Rent Supplement program. These twenty apartments will have rents geared to the income of the tenant.

"We are pleased to provide financial support to help create affordable apartment units in The Pas which will become homes for low- and moderate-income Manitobans," said Minister Melnick. "We also acknowledge the valued role of Evans Premachuk and the Town of The Pas, in helping us finalize plans to create more quality housing for Manitobans."

The new project is located at 1 Centennial Drive in The Pas, next door to the campus of University College of the North. The complex will include 31 one-bedroom units and eight three-bedroom apartments, which are expected to be ready for occupancy by December. Rents for the new apartments will be at median market rent levels for rural Manitoba.

"We are very excited about the future benefits of this significant undertaking," said Evans Premachuk, the developer of the project. "We feel it will be a new key to help restart the economic engine of The Pas and will help those in need to access affordable housing."

The governments of Canada and Manitoba will each contribute $36.9 million to the Affordable Housing Initiative in Manitoba, demonstrating a commitment to increasing the supply of affordable housing in Manitoba. It is anticipated that contributions from municipalities, the private and voluntary sectors, co-operatives and charities will further add to the value of both government's commitment.

For further information, please contact:

Clare Mc Williams
Canada Mortgage and Housing Corporation
403-515-2962

John B. Thorpe
Communications Services Manitoba
204-945-6778

Backgrounder

Canada - Manitoba Affordable Housing Agreement

First Phase:

The governments of Canada and Manitoba signed the Affordable Housing Initiative in 2002. The first phase provided federal funding of $25.39 million with matching contributions of $25.39 million from the Province of Manitoba and community-based housing partners. This agreement provided funding for a new rental housing-supply program, a rehabilitation/conversion program, a new homebuyer down-payment program and a home ownership-supply program.

Second Phase:

The second phase increased the total investment by $23.08 million by 2008. This is equally shared by Canada and Manitoba for:

  • a new rental housing-supply program to increase the amount of new rental affordable housing for low-income renters;
  • a rehabilitation/conversion housing program to rehabilitate severely deteriorated properties into rental or ownership affordable housing for low-income households;
  • a homebuyer down-payment assistance program to help low-income renters become first-time homebuyers of new or recently renovated affordable housing developed under Affordable Housing programs and;
  • a new homeownership supply program to increase homeownership by encouraging construction of new housing in targeted urban revitalization and remote areas.

As well, federal assistance is increased to 50 per cent of capital costs to a maximum of $75,000 per unit. The units are expected to remain affordable and be occupied by low-income households for a minimum of 10 years. Phase II is targeted to people on or eligible to be on a social-housing waiting list.

Other Government of Canada Housing Support in Manitoba:

The Government of Canada annually supports housing with approximately $126.5 million in grants, contributions and subsidies which primarily serve some 42,850 lower-income families, seniors, persons with disabilities, Aboriginal people and victims of domestic violence.

This includes funds for renovations under the Residential Rehabilitation Assistance Program (RRAP), Home Adaptations for Seniors' Independence (HASI), Emergency Repair Program (ERP) and the Shelter Enhancement Program (SEP).

Other Government of Manitoba Housing Support Programs:

The Government of Manitoba offers programs to help lower-income households maintain buy or rent safe, adequate and affordable housing. The province provides annual grants and subsidies through the Manitoba Housing and Renewal Corporation for non-profit and co-operative housing organizations to help develop project proposals for affordable housing for seniors, persons with disabilities and persons with low incomes. It supports the provision of private-sector financing for affordable housing projects developed and delivered by non-profit organizations and also provides grants and loans for home repairs.

The Affordable Housing Initiative complements existing renovation and repair programs including the Residential Rehabilitation Assistance Program (RRAP). Manitoba cost-shares RRAP, the Home Adaptations for Seniors' Independence Program, the Emergency Repair Program and the Shelter Enhancement Program with the federal government. The Manitoba government delivers the federal/provincial cost-shared programs as well as the provincially funded Homeowner Emergency Loan Program.

News source: Canada Mortgage and Housing Corporation (CMHC)

 

Top of page