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 Waterloo Region

KITCHENER-WATERLOO, ON, July 3 - The Government of Canada, the
Province of Ontario and the Region of Waterloo today announced $9.4 million to
fund three 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 include 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 Newo
Holdings Ltd., MennoHomes Inc. and Supportive Housing of Waterloo to build 79
units of affordable housing for low-income seniors, families and individuals
with disabilities.

Peter Braid, Member of Parliament for Kitchener-Waterloo, and Harold
Albrecht, Member of Parliament for Kitchener Conestoga, 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); John Milloy, Minister of Training, Colleges and Universities, Minister
of Research and Innovation and Member of Provincial Parliament for Kitchener
Centre, and Leeanna Pendergast, Member of Provincial Parliament for
Kitchener-Conestoga, on behalf of the Honourable Jim Watson, Ontario Minister
of Municipal Affairs and Housing; along with Ken Seiling, Chair, Region of
Waterloo, 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 Braid. "With these
investments in Kitchener-Waterloo, 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."

"When it comes to building safe and strong communities, it takes the
efforts of many to achieve success. It takes partnerships at all levels of
government to get real results," added MP Albrecht.

"New housing initiatives add significant support to the McGuinty
government's Poverty Reduction Strategy," said MPP Milloy. "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."

"Today's funding continues our government's commitment to address the
housing needs of Ontario's most vulnerable populations," said MPP Pendergast.
"Investment in affordable housing improves job prospects for residents and is
a fundamental support for individuals and families trying to break the cycle
of poverty."

"The extension of the Affordable Housing Program will assist our local
partners in creating much needed affordable and supportive housing for
seniors, homeless and low-income families in Waterloo Region," said Ken
Seiling, Regional Chair. "It will help bring the Region of Waterloo closer to
achieving its goal of creating at least 2,000 new units of sustainable
affordable housing by 2013."

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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