WELLAND, ON, March 15, 2019 /CNW/ - Hard working middle-class families in Welland deserve a safe and affordable place to call home where they can thrive and spend more time with their children.
Today, Vance Badawey, Member of Parliament for Niagara Centre, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced the construction and funding of 50 new rental housing units in Welland so that more middle-class families will have an affordable place to live.
Through CMHC's Rental Construction Financing initiative (RCFi), the federal government is investing $5.9 million for the construction of Old Oak Place, a 4-storey building that will provide safe and affordable homes to 50 families. All of the units will have rents well below 30% of median household income in the area and 10% of the units will be accessible.
This project will provide affordable housing options in an established inner-city area of Downtown Welland, close to public transit, schools and services for middle-income families. As a result, they can enjoy better social outcomes and contribute to vibrant and socially inclusive neighbourhoods.
"Through the National Housing Strategy, more middle-class Canadians - and those working hard to join it - will find safe, accessible and affordable homes in communities where their families can thrive and children learn and grow. This investment is wonderful news for the Welland middle-income families that will move into these new affordable rental housing units. Our Government is committed to increasing the supply of rental units for Canadians through projects like the one we are announcing today." – Vance Badawey, Member of Parliament for Niagara Centre
"We are pleased to announce Duffy Homes Ltd. is building 50 affordable rental units in our community of Welland at 574 King Street that will be known as Old Oak Place. Everyone knows the great need for new affordable housing and without funding from CMHC's Rental Construction Financing Initiative this project would not be possible." – Terry Duffy, President, Duffy Homes Ltd. and 867962 Ontario Ltd.
SOURCE Canada Mortgage and Housing Corporation
For further information: Valérie Glazer, Press Secretary, Office of the Minister of Families, Children and Social Development, 613-220-1841, [email protected]; Spencer Magee, Public Affairs, Canada Mortgage and Housing Corporation, (647) 244-0040, [email protected]