TORONTO, Nov. 29 /CNW/ - Funding of almost $23 million for 218 new affordable rental housing units for low-income families, seniors and singles was announced today in Toronto.
Lois Brown, Member of Parliament for Newmarket-Aurora, 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); and George Smitherman, Member of Provincial Parliament for Toronto Centre, on behalf of the Honourable Jim Watson, Ontario's Minister of Municipal Affairs and Housing; along with City of Toronto Councillor Pam McConnell, Ward 28 Toronto Centre-Rosedale, on behalf of Mayor David Miller and City Council, and David Mitchell, Chair, Toronto Community Housing, made the announcement.
"Our government is helping Canadians during these tough economic times and giving hope to seniors, families and individuals who need quality, affordable housing that meets their needs," said MP Brown. This investment is possible through our government's Economic Action Plan, that stimulates the economy and creates jobs during this global recession For Ontario, this includes a $1.2 billion joint investment."
"This project represents our government's commitment to ensuring residents in Toronto and throughout Ontario have access to affordable housing," said MPP George Smitherman. "It will not only add significant support to the Province's efforts to reduce poverty, but will also mean the creation of hundreds of jobs for our workers."
"The West Don Lands neighbourhood will be a wonderful addition to our city. This community will be a beautiful, sustainable, and welcoming place for everyone to live, work, and play. I am very pleased that the City of Toronto contributed $4.3 million in waived development fees and charges and property tax exemptions to help create affordable housing for seniors and families." said Councillor McConnell, vice-chair of the Affordable Housing Committee.
"There remains a vast need for more affordable housing and Toronto Community Housing applauds the three levels of government for responding to this need," said Toronto Community Housing chair David Mitchell. "It's a great opportunity to help us achieve our mandate of providing quality housing for low-and moderate-income singles, families and seniors in Toronto."
The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends. Canada's Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors. 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.
Canada's Economic Action Plan builds on the Government of Canada's commitment in 2008 of more than $1.9 billion, over the next five years, to improve and build new affordable housing and help the homeless.
Today's announcement celebrates funding for 218 units in two projects located at King and River Streets that will provide a total of 243 units of affordable rental housing for low-income families, singles and seniors. These homes are being developed by Toronto Community Housing and are part of the West Don Lands revitalization. The City of Toronto is increasing the number of affordable homes to 243 from 218 by directing an additional $7.49 million to this development from the provincial Developing Opportunities for Ontario Renters (DOOR) funding program, made possible through the federal Housing Trust.
Ontario is moving quickly to implement this additional funding. The province has already approved more than $172 million for construction-ready projects, which will improve access to affordable housing for low-income families, seniors and persons with disabilities across the province. It will also create jobs and strengthen local economies. To find out more about affordable housing in Ontario, visit www.mah.gov.on.ca.
More information on this and other measures in Canada's Economic Action Plan can be found at www.actionplan.gc.ca. 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.
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For more information visit: http://www.cmhc.ca
SOURCE Canada Mortgage and Housing Corporation
For further information: For further information: Media Inquiries: Michelle Bakos, Office of Minister Finley, (819) 994-2482; Jill Noble, Canada Mortgage and Housing Corporation, (416) 892-0355; Adam Grachnik, Office of Minister Watson, (416) 585-6492; Gil Hardy, Affordable Housing Office, City of Toronto, (416) 397-4701; Corinne DeAlmeida, Toronto Community Housing, (416) 891-8665