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

Canadian Mortgage News

October 2009 National News Archive

 

Related Links:
National Archive
2009 Archive
January 2009
February 2009
March 2009
April 2009
May 2009
June 2009
July 2009
August 2009
September 2009
October 2009
November 2009
December 2009


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

London Celebrates New Affordable Housing

LONDON, Ontario, October 16, 2009 — The Government of Canada, the Government of Ontario, and the City of London today celebrated the opening 52 new affordable rental units. The project is supported by more than $3.6 million in funding under the Canada – Ontario Affordable Housing Program.

Ed Holder Member of Parliament for London West, 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); the Honourable Deb Matthews, Member of Provincial Parliament for London North Centre and Minister of Children and Youth Services, on behalf of the Honourable Jim Watson, Minister of Municipal Affairs and Housing; Anne Marie DeCicco-Best, Mayor, City of London; and Brian Loubert, Vice-President of Homes Unlimited (London) attended the event.

"The Government of Canada is committed to making affordable housing available in London and across Canada for those who need it most," said MP Ed Holder. “These new apartments provide more rental options for individuals and families in need of suitable, affordable housing. This is critical to the economic and social well-being of our London community.”

"Housing is simply essential to the stability of Ontario's families," MPP Matthews. "The projects we're celebrating today will make a positive and significant difference in the lives of many."

Today’s announcement recognized the official opening of Nelson Place located at 570 Nelson Street. The $7.6 million project will be occupied by individuals and families living on low income.

The federal and provincial allocations to the project were complemented by almost $1.3 million in municipal financial incentives.

“This opening is very important to all Londoners, as we continue to battle homelessness in our community and beyond,” said Mayor DeCicco-Best. “By partnering with other levels of government through the Canada – Ontario Affordable Housing Program, we move closer to realizing a national solution to the critical need for more housing across the country.”

”Nelson Place is Homes Unlimited’s seventh housing project and will provide a new home for 52 tenants in need of affordable rental housing,” said Greg Playford, President of Homes Unlimited (London). “We are pleased that the federal and provincial governments, along the City London, continue to provide the financial support that allows us to address the need for affordable housing in our community.”

The Canada – Ontario Affordable Housing Program Agreement, signed in 2005, comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.

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. Combined for Ontario, this means a further $1.2-billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement. The federal and provincial governments are contributing equally to this overall investment.

Ontario is moving quickly to implement this additional funding, which increases the number of “quick start” projects to 39 totaling over $76.5 million and which will improve access to affordable housing for low-income families, seniors and persons with disabilities. It will also create jobs and strengthen local economies. To find out more about affordable housing in Ontario, visit www.mah.gov.on.ca.

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.

For further information please contact:

Michelle Bakos
Office of Minister Finley
819-994-2482

Jill Noble
Canada Mortgage and Housing Corporation
416-250-2761

Adam Grachnik
Office of Minister Watson
416-585-6492

Neil Watson
City of London
519-434-0181

News source: Canada Mortgage and Housing Corporation (CMHC)

 

Top of page