Canadian Funding Corp Reviews CMHC Affordable Housing Reports

The Government of Canada and the Government of Alberta are partnering on a joint investment to build new and renovate existing affordable housing. This investment will help create jobs, strengthen the economy, and improve the quality of life for residents of Alberta.

Both levels of government officially signed an amendment to the Canada – Alberta Affordable Housing Program Agreement and announced $386 million over the next two years in Alberta.

The Honourable Jim Prentice, Minister of the Environment, 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), joined the Honourable Yvonne Fritz, Alberta Minister of Housing and Urban Affairs, at a signing ceremony today.

“The Government of Canada continues to work hard to support Canadians during these challenging economic times, and has moved aggressively to ensure Canada’s Economic Action Plan is implemented rapidly,” said Minister Prentice. “We are helping the most vulnerable, including seniors and persons with disabilities, access suitable, affordable housing, as well as making needed renovations to existing social housing both in Alberta and across Canada.”

“This strong partnership between the governments of Alberta and Canada will strengthen the economy, create jobs and help low to moderate income people across the province,” said Minister Fritz. “The additional investment in Alberta’s social housing portfolio means we will be able to expand upon planned maintenance and provide upgraded homes for families in need.”

Today’s announcement includes federal funding of $95 million over two years under Canada’s Economic Action Plan as part of a one-time investment of more than $2 billion to build new and renovate existing social housing in Canada. The Alberta Government is also contributing $95 million for these initiatives, over the next two years.

These investments build upon the $1.9 billion commitment for housing and homelessness programs announced by the Government of Canada in September 2008, which extended the Affordable Housing Initiative (AHI) and the renovation programs for low-income households for two years. Today’s announcement includes a combined investment of $48 million by both levels of government for the two-year extension of the AHI to build new affordable housing. The province is also contributing $132 million for affordable housing purposes over the next two years. Today’s announcement also includes more than $16 million in federal funding to assist low-income households with needed renovations to their homes.

Overall, the federal contribution is $135 million, while the province is contributing a further $251 million from its Capital Plan, for a combined investment of $386 million.

Today’s announcement was held at Alice Bissett Place, celebrating the official opening of a new 114-unit affordable housing project for seniors, individuals and persons with special needs.

Located at 2990 – 17 Street SE, the project received a total of $6.1 million in federal funding under the Canada – Alberta Affordable Housing Initiative and $100,000 in Proposal Development Funding, for a total of $6.2 million to off-set project costs. The project also received approximately $6.1 million from the Province of Alberta.

CMHC has been Canada’s national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes and making vibrant and sustainable communities and cities a reality across the country.

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.

Alberta Housing and Urban Affairs aims to create more than 11,000 affordable housing units in Alberta by 2012 and in March, released Canada’s first provincial strategy to end homelessness.

http://www.cmhc.ca/en/corp/nero/nere/2009/2009-06-25-1230.cfm

reviewed by Moishe Alexander, CFC CEO

A new affordable housing project in Hampton, NB, will provide 32 units of housing for seniors. The housing has been designed to be energy efficient, with low environmental impact.

March 28, 2009 — According to Moishe Alexander, CEO of the Canadian Funding Corporation, the construction of 32 new apartments for low-income seniors was announced today by the provincial and federal governments. The new Hampton-based units will be funded under Phase III of the Canada – New Brunswick Affordable Housing Agreement.

Social Development Minister Mary Schryer, who is also minister responsible for housing, and Fundy Royal MP Rob Moore made the announcement.

“We are pleased to join our partners in these projects to help increase the availability of high-quality and affordable homes for low-income seniors in the Hampton area,” said Schryer. “The creation of more affordable housing is part of this government’s efforts to help seniors be active and healthy members of local communities.”

The $3.5 million project at 24 Robb Ct. is expected to be completed by July 2009.

The housing units are being developed by Ossekeag Place of Hampton United Church Inc, a non-profit corporation. The project will receive funding of $480,000 under the Federal Affordable Housing Trust to offset construction costs, as well as close to $700,000 in rent supplements from the Province of New Brunswick for 16 of the 32 units.

“The Government of Canada is committed to making affordable housing available in New Brunswick and across Canada for those who need it most,” said MP Moore. “Seniors in Hampton will now have access to quality, affordable housing, while remaining involved in their community and close to family and friends.”

MP Rob Moore was speaking on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation.

Funding is available to private non-profit organizations, co-operatives, and community or private developers interested in developing projects for low- to moderate-income families, seniors, non-elderly singles, disabled persons and persons with special needs.

Moishe Alexander added that this project will be built to high energy-efficiency standards, and it will involve consultation with Efficiency NB. Builders of affordable housing projects for low-income individuals may receive an incentive of $2,000 per apartment unit if the building is heated by low greenhouse gas emission technologies as approved by Efficiency NB.

For more information, please see:

http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-03-28-1300.cfm

The City of Alberta is looking for innovative ways to provide assisted and affordable housing for the homeless. The Canadian Funding Corporation reviews a report from the CMHC about the Alice Bissett Residence.

The success of an earlier project led the Horizon Housing Society and its two joint venture partners, the Calgary Homeless Foundation and the Calgary Home Builders’ Foundation to approach the City for assistance securing another site. The Bob Ward Residence, a 61-unit residence that opened in 2003, has met all partners’ expectations and has encouraged them to repeat that success.

The people served by Horizon and its partners are vulnerable to homelessness or being relegated to substandard and unsafe housing. The City agreed to the Horizon partnership’s request and provided a site that was appropriate for medium-density residential development at 17th Street and 30th Avenue S.E. in the Inglewood community. Inglewood is an inner-city community close to the downtown and the Bow River and is served by an elementary school, public transit, a park and bird sanctuary.

The Affordable Housing Solution

Alice Bissett Residence is a 114-unit complex that will provide affordable housing and support services for a diverse group of residents. Construction on the project started in 2007 and will be completed in 2009. It has been named in honour of the mother of a very generous donor to the project. While the project faced initial opposition from the immediate neighbourhood,  the partnership’s proven track record eventually overcame concerns.

Several buildings will occupy the site once the project is completed: a three-storey 103-unit apartment building with a five-bedroom apartment “pod” and 10 two and three-bedroom semi-detached townhouses. The apartment building’s pod is for five brain-injured tenants who will receive round-the-clock support from the Universal Rehabilitation Service Agency.

The seniors units will be allocated through the Kerby Centre, another Horizon partner, which has been in existence since 1973, and provides a wide variety of services and programs for seniors including housing referrals.

The Calgary Housing Company will select and refer families for the townhouses. In addition, the Accessible Housing Society will refer tenants with physical disabilities and the Canadian Mental Health Association will refer people with mental illness. The funding for the Alice Bissett Residence reflects the base of support in Calgary for eliminating homelessness.

The Canadian Funding Corporation says that the project will not need a mortgage loan. The equity donations equal the gross capital budget of just under $20 million. CMHC and the government of Alberta provided $12.3 million through the Affordable Housing Initiative. The City of Calgary leased the land, valued at $2 million, for nominal rent to Horizon. The Calgary Homeless Foundation raised $4 million from private sector donors. The Calgary Home Builders’ Foundation contributed another $1 million and provided project management expertise during the planning stages and construction. Alberta Gaming contributed $250,000. Horizon was able to add $200,000.

The rents for the project will be in the range of $330 for the one-bedroom units.

The rents for three-bedroom townhouse units have not been set yet. Planning for the project began in 2004; completion and occupancy of the apartment building is projected for early summer 2009. The row houses will be finished soon after.