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

Canadian Mortgage News

January 2007 National News Archive


Related Links:
National Archive
2007 Archive
January 2007
February 2007
March 2007
April 2007
May 2007
June 2007
July 2007
August 2007
September 2007
October 2007
November 2007
December 2007

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

Two New Affordable Housing Projects Announced in Regina

REGINA, Saskatchewan, January 17, 2007 — The federal and provincial governments announced details today of two new affordable housing projects that will provide approximately $2.2 million, under the Centenary Affordable Housing Program (CAHP), for the construction of a total of forty-two new apartment units to assist some of Regina’s most vulnerable people. CAHP funding for Red Ribbon Place and Soul’s Harbour Rescue Mission is being provided by Canada Mortgage and Housing Corporation (CMHC), the Saskatchewan Housing Corporation (SHC) and the City of Regina.

“Canada’s New Government recognizes the importance of affordable housing,” said Andrew Scheer, Member of Parliament for Regina – Qu’Appelle, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development. “We are pleased to be working with our partners to extend a helping hand to those lower income individuals and families in Regina that are working towards building a better future.”

“Today’s announcement is about helping more Regina residents live in safe, affordable homes and making life better for today’s families,” Corrections and Public Safety Minister Warren McCall, on behalf of Community Resources Minister Buckley Belanger said. “The new Red Ribbon and Soul’s Harbour Rescue Mission projects mark a new beginning for vulnerable households as they work towards building independence. These projects clearly exemplify what our HomeFirst housing policy framework is all about.”

"These affordable housing projects are two more great examples of what can be accomplished when government and community work together to improve living conditions and quality of life for residents in Regina’s inner city neighbourhoods," Regina Mayor Pat Fiacco said. "The Red Ribbon and the Soul’s Harbour Rescue Mission affordable housing projects fit well with City Council's long range vision of a city that is attractive, generous, affordable, accessible, compact and competitive, where young people can thrive in opportunity."

The Red Ribbon Place project, which will be built in North Central Regina, will consist of 11 bachelor style and 1 two-bedroom style apartments for low income individuals and families. Red Ribbon Place is a joint venture between All Nations Hope AIDS Network and AIDS Programs South Saskatchewan. Total cost for the Red Ribbon Place is over $1.5 million, of which approximately $734,000 was provided by Canada Mortgage and Housing Corporation and Saskatchewan Housing Corporation. As well, $830,000 was provided through the Government of Canada’s National Homelessness Initiative for the office portion of the project and to help defray operating costs. The City of Regina is also providing a five-year tax abatement.

The Soul’s Harbour Rescue Mission project, to be constructed in the1600 block of Angus Street, will consist of thirty apartment-style units to house homeless men and women with children. The Soul’s Harbour Rescue Mission is both sponsor and owner of the project.

Total cost for this project is approximately $1.8 million, of which approximately $1.5 million was provided under CAHP by Canada Mortgage and Housing Corporation and Saskatchewan Housing Corporation. Additional funding was of $150,000 was contributed by the Government of Canada’s National Homelessness Initiative, with the City of Regina providing a five-year tax abatement.

CAHP is funded under the Canada – Saskatchewan Affordable Housing Agreement. It provides approximately $33 million in federal funding for affordable housing, which is matched by Saskatchewan, municipalities and other partners. With these matching contributions, a total of over $66 million will be committed by 2007 – 2008 for affordable housing.

For further information contact:

Kimberlee Jones
Canada Mortgage and Housing Corporation

Mark Rathwell
City of Regina

News source: Canada Mortgage and Housing Corporation (CMHC)


Top of page