Over $5 million to boost affordable housing in Peterborough



    PETERBOROUGH, ON, March 28 /CNW/ - The Government of Canada, the
Government of Ontario, and the City of Peterborough today celebrated the
creation of 79 new affordable housing units in Peterborough. Four affordable
housing projects received more than $5.5 million in funding under the
Canada-Ontario Affordable Housing Program.
    Dean Del Mastro, Member of Parliament for Peterborough, on behalf of the
Honourable Monte Solberg, Minister of Human Resources and Social Development
Canada; Jeff Leal, Member of Provincial Parliament for Peterborough, on behalf
of the Honourable Jim Watson, Minister of Municipal Affairs and Housing;
Peterborough Mayor Paul Ayotte; and affordable housing sponsors Amit Sofer of
TVM Tower Residences Inc. and TVM Schoolhouse Inc., Donna Clarke of
Peterborough Community Housing Development Corporation, and Glenn Moloney of
Moloney Property Development Corporation attended the ceremony.
    "The Government of Canada is committed to making affordable housing
available in Ontario and across Canada for those who need it most," said MP
Del Mastro. "Projects like these will give low income residents with special
needs in the Peterborough area the opportunity to stay in their community
close to family and friends while receiving the care and support they need."
    "Investing in affordable housing allows people living on lower or fixed
incomes to live independently in their home communities," said MPP Leal. "We
need to do everything we can to ensure that affordable housing is available
for those who need it."
    Today's announcement recognized four affordable housing projects in
Peterborough, totalling over $9 million in capital costs:

    
    -   An 11-unit conversion project, now officially open. The $1.5 million
        conversion project is sponsored by TVM Tower Residences Inc. and will
        receive $770,000 under the Canada-Ontario Affordable Housing Program.
        The units will be occupied by residents with lower incomes.

    -   A 48-unit project, now under construction. The $5.5 million project
        is sponsored by TVM Schoolhouse Inc., in partnership with Kawartha
        Participation Projects, and will receive $3.3 million in funding
        under the Canada-Ontario Affordable Housing Program. The units will
        be occupied by low-income residents, some with special needs.

    -   A 16-unit project, soon to be under construction. The $1.7 million
        project is sponsored by Moloney Property Development Corp. and will
        receive $1.1 million under the Canada-Ontario Affordable Housing
        Program. The units will be occupied by low-income residents, some
        with special needs.

    -   A 4-unit project, soon to be under construction. The $623,000 project
        is sponsored by Peterborough Community Housing Development
        Corporation and will receive $280,000 under the Canada-Ontario
        Affordable Housing Program. The units will be occupied by low-income
        residents.
    

    The federal and provincial allocations to the projects were complemented
by more than $523,000 in municipal financial incentives.
    "The City and County of Peterborough have demonstrated leadership and
commitment to affordable housing that is second to none in the province. These
four new affordable housing projects are a result of the hard work and
collaborative efforts of community members, builders and all levels of
government. These rental projects are part of a total of over 400 new
affordable homes in this community in the last several years and we are
committed to doing even more," said Peterborough Mayor Ayotte.

    The Canada - Ontario Affordable Housing Program 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
20,000 households in Ontario.

    Disponible en français

    For more information visit http://www.cmhc.ca





For further information:

For further information: Susan Monic, Canada Mortgage and Housing
Corporation, (416) 250-2745; Adam Grachnik, Minister Jim Watson's Office,
(416) 585-6492; Susan Bacque, City of Peterborough, (705) 742-7777 Ext.1492;
Keith Extance, Director, Housing Division, Ministry of Municipal Affairs and
Housing, (416) 585-7021

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Ontario Ministry of Municipal Affairs and Housing

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