Canadian Mortgage News

July 2009 National News Archive

New Affordable Seniors Housing in Watson Lake

WATSON LAKE, , July 27, 2009 — The governments of Canada and Yukon, along with community partners, participated in a sod-turning today on a $4.5 million, 12-unit housing development for seniors.

The funding was made available as a result of a $60 million joint investment under an amendment to the Canada – Yukon Affordable Housing Agreement which includes funding through Canada’s Economic Action Plan and the Yukon Government.

The Honourable Vic Toews, President of the Treasury Board, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Dennis Fentie, Premier of Yukon, made the announcement.

"The Government of Canada is committed to making affordable housing available in Yukon and across Canada for those who need it most," said Minister Toews. "Today’s launch provides Watson Lake seniors with quality and affordable rental housing that meets their needs."

"Yukon is capitalizing on Canada’s economic stimulus package, to the benefit of residents, industry and communities. We are the first jurisdiction to fully allocate this year’s funding received under Canada’s Economic Action Plan," said Premier Fentie. "We’re very pleased with the partnership established with the Government of Canada, with construction already underway throughout the territory."

For this new seniors project, the Government of Canada is contributing more than $4 million for 12 affordable housing units and Yukon Housing Corporation is providing $450,000. The project will meet Yukon Housing Corporation’s SuperGreen Home energy standards and features Accommodating Home standards to ensure a barrier-free interior and exterior living environment. The project will enable seniors in Watson Lake to remain in their community.

Last fall, the Government of Canada committed more than $1.9 billion over the next five years to improve and build new affordable housing and to help the homeless. Canada's Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.

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. For more information on Canada’s Economic Action Plan, call 1-800-O Canada or visit www.actionplan.gc.ca.

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News source: Canada Mortgage and Housing Corporation (CMHC)