Canadian Funding Corp Reviews CMHC Affordable Housing Reports

Canadian Funding Housing reviews family housing project. The Honourable Daniel Lang, Senator (Yukon), 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), along with the Honourable Jim Kenyon, Minister Responsible for the Yukon Housing Corporation and the Honourable Marian Horne, Yukon Minister Responsible for the Women’s Directorate, launched the construction phase of a Whitehorse Affordable Family Housing project today.

The $8.5 million federal contribution to the project comes through Canada’s Economic Action Plan, the government’s plan to stimulate the economy and create jobs during the global recession. Recognizing the distinctive needs of the North, Canada’s Economic Action Plan provides $200 million, over two years, including $50 million for the Yukon, to support the renovation and the construction of new social housing units. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

“The Government of Canada is committed to making affordable housing available in the Yukon and across Canada for those who need it most,” said Senator Lang. “We are also making an important difference in the lives of individuals and families in Whitehorse who are working towards building a stronger and better future for themselves.”

“With funding from the Government of Canada, Yukon government is launching several important housing projects in the territory,” said Minister Kenyon. “Construction of the Whitehorse Affordable Family Housing is creating jobs for Yukoners and will provide much-needed housing for lone-parent families.”

Construction of the 32-unit apartment-style affordable housing project on Nisutlin Drive in Whitehorse will continue throughout the winter, generating employment for trades. Completion is anticipated for the fall of 2010. The two-storey wood frame construction will feature SuperGreen energy efficiency standards and Accommodating Home standards for a barrier-free living environment. The contract for the construction of the four 8-plex buildings was awarded to NGC Builders Ltd.

“In November 2007, our government consulted with women’s organizations, women’s shelters and social housing tenants. Affordable housing for lone-parent families was identified as the greatest immediate need,” said Minister Horne.

Another project in Whitehorse funded through Canada’s Economic Action Plan is a renovation that will result in three units for adults living with Fetal Alcohol Spectrum Disorder. The federal contribution to the project is $70,000. Work will be completed this fall through the Options for Independence Society.

Canadian Funding Corp notes that the Government of Canada, the Government of Ontario, the City of Toronto and Options for Homes celebrated today the start of construction of affordable housing in a two-tower condominium complex. The Village by High Park project will include condominium units for low-to-moderate income households. The development is funded in part under the Canada – Ontario Affordable Housing Program and in part by the City of Toronto.

Lois Brown, Member of Parliament for Newmarket – Aurora, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation; Mario Sergio, MPP for York West and Parliamentary Assistant to the Honourable Jim Watson, Ontario Minister of Municipal Affairs and Housing; and Councillor Gord Perks, Ward 14 Parkdale – High Park, on behalf of Mayor David Miller, attended the event.

“The Government of Canada is committed to creating new affordable housing across Ontario,” said MP Brown. “This project will help many families in Toronto access quality, affordable housing and start a new chapter in their lives.”

“This project will give hundreds of families the opportunity to own their own place. I am proud of our partnership with other levels of government and Options for Homes,” said PA, Sergio. “By investing in affordable housing, we are also building healthier communities.”

The development, located at 403 Keele Street, will receive more than $1.6 million from the Homeownership component of the Canada – Ontario Affordable Housing Program and will assist 192 households. The objective of this component is to ease the demand for rental housing by assisting individuals with low-to-moderate incomes to purchase newly-built affordable homes. The City of Toronto provided a loan worth more than $3 million.

“Toronto is pleased to support the creation of affordable home ownership opportunities for people by deferring development charges,” Councillor Perks said. “I know these new homes will have a powerful positive impact on the West Toronto junction and the entire city.”

“This is a breakthrough development for Options. The scale of this project shows that home ownership can be made available to everyone in Ontario,” says Mike Labbé, CEO of Options for Homes. “The government’s help with the down payments makes it possible to expand our activities and help more low-income families and individuals.”

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.

Canadian Funding Corp images of High Park in Autumn

Northern construction and technical experts from the Nunavut Housing Corporation are on hand this week to learn how to assemble pre-built housing units before their expected delivery to the Northern territory’s communities in 2010.

Guy Lauzon, Member of Parliament for Stormont – Dundas – South Glengarry, 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), along with the Honourable Hunter Tootoo, Minister Responsible for the Nunavut Housing Corporation, Homelessness, and the Qulliq Energy Corporation, and Peter Scott, President of the Nunavut Housing Corporation, attended the Northern housing demonstration build at the Illamar Marshalling Yards today.

The funding for this new housing is part of a combined federal-territorial investment of $112 million over two years, under Canada’s Economic Action Plan which is providing a one-time investment of more than $2 billion to build new and renovate existing social housing in Canada. The investment in Nunavut includes a federal investment of $100 million for Northern housing, which does not require cost-sharing by the territory, as well as a further $12 million, equally cost-shared for new housing for seniors and persons with disabilities and for the renovation and retrofit for existing federally assisted social housing.

The pre-built housing units use Structural Insulated Panels (SIPs). Given the North’s relatively short construction season, SIP housing units can be closed-in very quickly, allowing interior finish work to continue throughout the fall and winter weather conditions. As many as 141 SIP units will be delivered to Nunavut communities in 2010.

“The foundation you are laying is helping to create a long-term vision to address housing affordability in the North,” said MP Lauzon. “This comes at a time when we’re building real momentum for progress and recognizing the distinct needs of the North. This investment will also provide an economic stimulus for Northern residents by creating jobs.”

“The use of SIP housing units is one of many means used by the Housing Corporation in the continuing effort, which is shared by Ottawa and the Corporation’s community partners, to meet Nunavut’s housing needs,” said Minister Tootoo. “SIP units far exceed energy efficiency standards, and that will mean less operating and maintenance costs in a harsh Arctic environment.”

Video footage of ice fishing in Nunavut