CANADA SUPPORTS THE REPAIRS OF OVER 1,955 HOUSING UNITS IN EDMONTON

EDMONTON, AB, April 21, 2023 /CNW/ - Today the Honourable Randy Boissonnault, Minister of Tourism, Associate Minister of Finance and Member of Parliament for Edmonton Centre, on behalf of the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, and Amarjeet Sohi, Mayor of Edmonton announced a combined investment of nearly $66.7 million to support the repairs of 1,955 municipally owned housing units in Edmonton.

The federal government is investing up to $19.5 million through the National Housing Co-Investment Fund (NHCF), a key pillar of the Government of Canada's National Housing Strategy and the City of Edmonton is contributing $14 million of existing funding to the projects. An additional $33.2 million will be supplied by operators, largely through existing capital maintenance grants or debt financing.

The federal investment will help fund the rehabilitation of deep subsidy and near-market housing units. Edmonton City Council will discuss details of the proposed projects with Civida and HomeEd, in early May. Repairs of the units are expected to be completed by February 2026.

A $34.7-million investment will rehabilitate 882 deep subsidy units at 11 sites built by the City of Edmonton in the 1960s and 1970s in partnership with all levels of government, now managed by Civida through operational agreements between the City and Government of Alberta. Civida's project will involve foundation repairs, electrical upgrades, energy efficiency and accessibility improvements.

Another $32 million will be invested in a major retrofit of 1,073 mixed income townhomes and apartments at 22 sites owned by HomeEd, the City's non-profit housing corporation. The HomeEd project is expected to reduce emissions by a minimum of 25 per cent and enhance accessibility of nearly 400 units. For a minimum of 20 years, at least half of the HomeEd units will be rented below 80 per cent of market rent.

Quotes:

"Every Canadian deserves a safe and affordable place to call home. By investing in the repair of existing homes here in Edmonton, our government is ensuring that residents can continue to have a secure and safe haven for them and their families into the future. This funding will ensure that residents including women and children have access to the affordable housing they deserve and will help improve the quality of life for those who need it most. This is one of the many ways our government's National Housing Strategy is ensuring that no one is left behind." – The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"Ensuring that everyone in Edmonton has access to safe and affordable housing is one of the top priorities for our government. Through the National Housing Co-Investment Fund, and in collaboration with our community partners, we are helping address the housing crisis in Alberta and across Canada. Providing funding for the upkeep and maintenance of current housing stock ensures that Edmontonions will continue to have an affordable and safe place to call home in their communities."– The Honourable Randy Boissonnault Minister of Tourism, Associate Minister of Finance and Member of Parliament for Edmonton Centre 

"We know that one in four renters in Edmonton pay more than they can afford on housing, or else live in crowded or unsafe conditions. Affordable housing is core infrastructure that provides a foundation for a better future, and acts as a stabilizing force during tough times. Families will benefit from improved comfort, accessibility, safety and efficiency, and thanks to this once-in-a-generation investment, Edmonton will be stronger, more resilient and more inclusive for decades to come."– Amarjeet Sohi, Mayor, City of Edmonton 

"Civida is very grateful to the Government of Canada and the City of Edmonton for this funding, which will help us continue to provide safe and affordable homes for those in need in our community, for many years to come. These much-needed funds will ensure that we are able to continue our work in the revitalization of the 11 properties that Civida manages on behalf of the City of Edmonton. As a result, the lives of the close to 900 Edmonton families and individuals who reside in these homes will be positively impacted today and into the future. I am confident that investment in these properties will also have a significant positive impact on the surrounding communities. As the largest provider of affordable housing in Edmonton, Civida is very much invested in the success of our tenants and we are committed to providing safe, quality homes for Edmontonians." – Gord Johnston, CEO of Civida 

 "HomeEd is delighted to have the support of the Government of Canada and the City of Edmonton in continuing to provide quality, affordable housing for Edmontonians. This investment is a big step towards reimagining affordable housing in this City, strengthening the quality and sustainability of our housing stock into the future. These funds will further fuel HomeEd's efforts to enhance the energy efficiency and accessibility of our rental housing, allowing even more Edmontonians to live in a home they love and can afford." – Nick Lilley, CEO, HomeEd

Quick facts:

• The National Housing Co-Investment Fund (NHCF) is a program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous peoples, people with disabilities, those with mental health or addiction issues, veterans, and young adults.
• Budget 2022 proposes to advance $2.9 billion in funding under the NHCF to accelerate the creation of up to 4,300 new units and repair up to 17,800 units.
• The Government of Canada's National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest over $82 plus billion to give more Canadians a place to call home.

Related 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 needs, and offers unbiased housing research and advice to all levels of the Canadian government, consumers and the housing industry. CMHC's aim is that by 2030, everyone in Canada has a home they can afford and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, visit: www.placetocallhome.ca
  Check out the National Housing Strategy Housing Funding Initiatives Map to see affordable housing projects that have been developed across Canada. 

SOURCE Canada Mortgage and Housing Corporation

Information on this news release: Mahreen Dasoo, Office of the Minister of Housing and Diversity and Inclusion, [email protected]; Media Relations: Canada Mortgage and Housing Corporation, [email protected]