More Rental Housing for Families in Aylmer Sector
AYLMER, QC, June 2, 2021 /CNW/ - Every Quebecer deserves a safe and affordable place to call home. Thanks to investments made by the Government of Canada, residents of the Aylmer sector of the city of Gatineau now have access to more stable rental housing options.
Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC) announced a $24,630,000 million low-cost loan to help construct the new residential building located at 71-79 rue Principale in the Aylmer sector of Gatineau, Québec.
The British Square, by the developer 11644394 Canada Inc, is a five-storey, plus mezzanine, residential building with 84 residential units featuring seven studio units, 50 one-bedroom units and 27 two-bedroom units. This project in Old Aylmer will provide much needed rental housing close to public transit, schools and services for families.
The project received funding through CMHC's Rental Construction Financing initiative (RCFi), a National Housing Strategy program that supports rental housing construction projects to encourage a stable supply of rental housing for middle-class families in expensive housing markets.
Quotes:
"Every Quebecer deserves a safe and affordable place to call home. That's why our government is taking action to increase the supply of affordable rental housing through projects like this one in Aylmer. The British Square will provide families with better access to jobs, services and the amenities they need. This is the National Housing Strategy at work." – The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC)
"The British Square is a beautifully designed 84-unit apartment complex located in the heart of Old Aylmer (Gatineau, Quebec) and available for occupancy in June of 2022.
Physically and architecturally linked to the historic 1834 British Hotel, Public House, and Café, this remarkable and pet-friendly development blends distinctive unit designs with an outstanding list of building amenities. Occupants will enjoy short strolls to the Ottawa River and all other natural and cultural elements that make Aylmer living so welcoming and unique." – Mike Clemann, President, 11644394 Canada Inc.
Quick facts:
- The project will include two (2) levels of below grade parking containing a total of 88 spaces (85 interior & 3 exterior) and a roof top terrace on the 5th floor.
- The project demonstrates good affordability outcomes. All 84 units will have rents well below 30% of median household income (70% of the 30% HHMI) in the area and units will be held at affordable rent levels for a minimum of 11 years.
- The project will have barrier free access. At least 2 units will be universal design, at least 2 units will be adaptable and a minimum of 9 units will meet or exceed the municipal accessibility requirements.
- The Project is designed to achieve energy efficiency savings of 20.4% and greenhouse gas emission reductions of 20.4%, relative to the requirements of the 2015 National Energy Code for Buildings
- Through the RCFi, the Government of Canada is encouraging the construction of more than 71,000 new rental housing units.
- A stable supply of rental housing is critical to ensure that more Canadians have access to housing that meet their need and that they can afford. This is a great option for middle class Canadians who are experiencing affordability pressure in many markets with high home prices and lack of rental supply.
- Launched in April 2017, the RCFi has generated significant interest in the industry, which has led to an expansion of the program. Through Budget 2019, the Government of Canada increased the total amount available in loans to $13.75 billion.
- Given the high demand for the program, the Government again expanded the RCFi in the 2020 Fall Economic Statement by adding an additional $12 billion over 7 years, starting in 2021-22. The program now totals $25.75 billion in low-cost loans.
- To help Canadians find affordable housing, Budget 2021 proposes to provide an additional $2.5 billion over seven years in new funding and a reallocation of $1.3 billion in previously announced funding to speed up the construction, repair, and support over 35,000 additional housing units.
- Budget 2021 proposes that $300 million over two years (2021-22 and 2022-23) from the RCFi be allocated to support the conversion of vacant commercial property into 800 units of market-based rental housing. As the demand for retail and office space has changed due to COVID, some landlords, particularly in major urban cores, are facing higher vacancies. This is an opportunity for property owners and communities to explore converting excess space into rental housing, enhancing the livability and affordability of urban communities.
- 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 $13 billion committed through the 2020 Fall Economic Statement.
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, 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
Media contacts: Mikaela Harrison, Press Secretary, Office of the Minister of Families, Children and Social Development, [email protected]; Audrey-Anne Coulombe, Media Relations, Canada Mortgage and Housing Corporation, [email protected]
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