Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 03, 2009 23:59 ET

Construction set to begin on new affordable housing in Peterborough

PETERBOROUGH, ON, July 3 - The Government of Canada, the Province
of Ontario and the City of Peterborough today announced $7.9 million to fund
eight construction-ready projects.

The funding was made available as a result of a $1.2-billion joint
investment under the amended Canada-Ontario Affordable Housing Program
Agreement, which includes funding through Canada's Economic Action Plan and by
the Government of Ontario. The federal and provincial governments are
contributing equally to this overall investment.

Today's announcement recognized the successful application by Otonabee
South Monaghan, Peterborough Housing Corporation, the TVM Group, ECE Living,
Brock Street Mission, Peterborough Housing Corporation in Lakefield and
Peterborough Community Housing Development to build 71 units of affordable
housing for low-income seniors, families and individuals with disabilities.

Dean Del Mastro, Member of Parliament for Peterborough, 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 Jeff Leal, Member of Provincial Parliament for Peterborough, on
behalf of the Honourable Jim Watson; Ontario Minister of Municipal Affairs and
Housing, along with Paul Ayotte, Mayor of the City of Peterborough, made the
announcement today.

"This Government is working hard to support Canadians during these
challenging economic times and we are moving aggressively to ensure Canada's
Economic Action Plan is implemented rapidly," said MP Del Mastro. "With these
investments in Peterborough, we are making an important difference in the
lives of some of our community's most vulnerable citizens. Low-income seniors,
families and persons with disabilities will soon have access to quality,
affordable housing and services to meet their specific needs, while remaining
close to their families and friends."

"New housing initiatives add significant support to the McGuinty
government's Poverty Reduction Strategy," said MPP Leal. "This first wave of
funding will lead to construction by September and we will continue to work
with our municipal partners to ensure more units are built during the life of
this program."

"This is wonderful news from the Province of Ontario. We are very aware
of the pressing need for more affordable rental housing for low-income seniors
and persons with disabilities in our area, and this announcement marks the
beginning of a new cycle of construction. Non-profit and private sector
developers have stepped up to the plate, and have committed to start their
projects by the fall. Construction jobs will result, and homes will be built -
a win-win situation for the local economy." said Mayor Ayotte.

Ontario is moving quickly to implement this new funding with a total of
23 "quick start" projects totaling over $52.2 million - all of which will
improve access to affordable housing for low-income families, seniors and
persons with disabilities. It will also create jobs and strengthen local
economies. To find more about affordable housing in Ontario, visit

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 For more information on
Canada's Economic Action Plan, call 1-800-O Canada or visit

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Contact Information

  • Michelle Bakos, Office of Minister Finley, (819) 994-2482; Nicole Burgers,
    Canada Mortgage and Housing Corporation, (416) 250-2760; Adam Grachnik,
    Office of Minister Watson, (416) 585-6492; Susan Bacque, City of Peterborough,
    (705) 742-7777 ext. 1492