Canada Providing More Rental Housing for Families in Winnipeg

WINNIPEG, MB, March 5, 2021 /CNW/ - Every Canadian deserves a safe and affordable place to call home. Thanks to investments made by the Government of Canada, residents of Winnipeg will soon have access to more stable rental housing options.

Government of Canada (CNW Group/Canada Mortgage and Housing Corporation)

Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), Terry Duguid, Member of Parliament for Winnipeg South, and Brian Bowman, Mayor of Winnipeg, announced $22.85 million to help construct 87 residential units located at 140 Transcona Boulevard in Winnipeg.

Park City Commons, building O, a six-storey multi-residential building by EdgeCorp Developments Ltd., is receiving the low-cost loan through the Government of Canada's Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by CMHC that supports rental housing construction projects. The program encourages a stable supply of rental housing to support middle-class families facing expensive housing markets.

This project, constructed on a former City of Winnipeg Public Works Yard, will provide new housing options close to public transit, schools and services for families in Winnipeg.

Quotes

"Every Canadian deserves a safe and affordable place to call home. Today's announcement will help create more rental units for Canadian families. Our Government is committed to ensuring the housing needs of residents right here in Winnipeg are met. We will continue to increase the supply of rental units for Canadians, while creating middle-class jobs and strengthening our economy." – The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible Canada Mortgage and Housing Corporation (CMHC)

"Hard working middle-class families in Winnipeg deserve a safe and affordable place to call home where they can thrive and spend more time with their children. I want to congratulate EdgeCorp Developments, as this is their second rental housing project in Winnipeg that we have the pleasure of announcing under the Rental Construction Financing initiative." – Terry Duguid, Member of Parliament, Winnipeg South

"I'm pleased to see federal support for housing in Winnipeg that will lead to 87 more units in a growing area of our city. This project is located on previous City of Winnipeg Public Works department land and the City was an active partner in ways that include land remediation and grant funding from the Green Municipal Fund. As Winnipeg continues to grow toward a million people, housing will continue to be in demand and today's announcement will help fill that demand."– Brian Bowman, Mayor of Winnipeg

"The RCFi financing program provided us with lower financing fees, favorable interest rates and terms so that we could develop a living environment that addresses rent affordability and accessibility."– Keith Merkel, President, EdgeCorp Developments

Quick Facts

• The Government of Canada acknowledges Park City Commons, Building O, is located on Treaty 1 territory, the traditional territory of Anishinaabeg, Cree, Oji-Cree, Dakota, and Dene Peoples, and on the homeland of the Métis Nation.
  
  
• The building will have barrier free access. At least two units will be universal design and at least two units will be adaptable. In addition, nine units within the project will meet or exceed the local accessibility standards.
  
  
• The building is designed to achieve energy-efficiency savings of 26.4% and reduction in greenhouse gas emissions of 36.2% relative to the 2015 National Energy Code of Buildings.
  
  
• Construction commenced in April 2020, and substantial completion is expected by July 2021.
  
  
• Canada's National Housing Strategy (NHS) is a 10-year, $70+ billion plan that will give more Canadians a place to call home—this includes more than $12 billion committed through the 2020 Fall Economic Statement.
  
  
• The RCFi, a National Housing Strategy (NHS) initiative delivered by CMHC, supports rental housing construction projects to encourage a stable supply of rental housing across the country for middle-class households struggling in expensive housing markets.
  
  
• New measures introduced in the Fall Economic Statement on November 30, 2020, build on the Government's previous investments to enhance housing affordability for those who need it most, including an expansion of the RCFi by $12 billion over 7 years, starting in 2021-22, to support the construction of an additional 28,500 rental units. This additional funding will now support the construction of 71,000 rental units, bringing the program to a total of $25.75 billion in low-cost loans.

Associated Links

• As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. For more information, visit our website or follow us on Twitter, YouTube, LinkedIn, Instagram and Facebook.
  
  
• To find out more about the National Housing Strategy, visit www.placetocallhome.ca.

SOURCE Canada Mortgage and Housing Corporation

on this release: Mikaela Harrison, Press Secretary, Office of the Minister of Families, Children and Social Development, [email protected]; Leonard Catling, Media relations, Canada Mortgage and Housing Corporation, 604-737-4029, [email protected]; City of Winnipeg, [email protected], 204-986-6000