CALGARY, Feb. 11, 2020 /CNW/ - Thanks to an investment from the Government of Canada, Calgary residents will soon have more affordable places to call home in Calgary.
The Honourable Marc Garneau, Minister of Transport, on behalf of the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC) announced an investment of $24.5 million toward the construction of the Mulberry, a 5-storey 96-unit rental building featuring one- and two-bedroom homes in the residential district of West Springs.
Developed by Truman Homes (Truman) the project is receiving financing through the Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by CMHC. The initiative supports rental housing construction projects to assist in providing a stable supply of rental housing for middle-class families living in expensive housing markets.
Annual rents at Mulberry will be provided at rates less than 30% of Calgary's median household income, with at least 31 units held at or below these levels for a minimum of 21 years. More than ten percent of the homes at Mulberry will meet municipal accessibility requirements.
Quotes
"Hard working Canadians deserve an affordable place to call home that meets their needs. Through Canada's first National Housing Strategy, our government is taking action to strengthen the middle class and create more housing options in areas across the country that need it most. Here in Calgary, the new Mulberry building is going to be a great example of our strategy in action, adding almost a hundred homes to this community." — The Honourable Marc Garneau, Minister of Transport
"Mulberry at West District by Truman is one of the first projects in Calgary to receive construction and project financing support through the RCFi program. As leaders in the development industry, paired with our experience working with CMHC we have demonstrated this innovate federal model allows developers to provide attractive affordable homes for individuals and families in Calgary and throughout Canada. Truman is very proud to partner with CMHC and the Government of Canada as none of this would possible without their commitment to this worthwhile initiative." — George Trutina, President, Truman
Quick facts
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. 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.
SOURCE Canada Mortgage and Housing Corporation
Jessica Eritou, Office of the Minister of Families, Children and Social Development, Ottawa, 613-864-0682, [email protected]; Leonard Catling, Canada Mortgage and Housing Corporation, Calgary, 604-787-1787, [email protected]
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