Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 20, 2009 23:59 ET

Governments of Canada and Ontario Celebrate New Affordable Housing in London

LONDON, ON, Nov. 20 /CNW/ - Funding of $4.7 million for 52 new affordable housing rental units for seniors living on low income was announced today in London.

Ed Holder, Member of Parliament for London West, 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 the Honourable Chris Bentley, Attorney General and Member of Provincial Parliament for London West on behalf of the Honourable Jim Watson, Ontario's Minister of Municipal Affairs and Housing; along with David Winninger, Councillor on behalf of Anne Marie DeCicco-Best, Mayor of the City of London, made the announcement.

"The Government of Canada is helping Canadians during these tough economic times and giving hope to seniors who need quality, affordable housing that meets their needs," said MP Holder. "This investment is possible through our government's Economic Action Plan, that is stimulating the economy and creating jobs during the global recession. For Ontario, this includes a $1.2 billion joint investment."

"New housing initiatives add significant support to the McGuinty government's Poverty Reduction Strategy," said MPP Bentley. "We will continue to work with our municipal partners to ensure more units are built during the life of this program."

"This multi-level funding is very important to all Londoners, especially our seniors, as we continue to work together to combat homelessness, through the provision of decent affordable housing in our community," said Mayor Anne Marie DeCicco-Best.

The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends. Canada's Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

Canada's Economic Action Plan builds on the Government of Canada's commitment in 2008 of more than $1.9 billion, over the next five years, to improve and build new affordable housing and help the homeless.

Today's announcement celebrates funding for 52 new affordable rental units at 390 Princess Ave. in London.

Ontario is moving quickly to implement this additional funding with a total of 39 quick start projects totaling over $76.5 million, 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 out more about affordable housing in Ontario, visit www.mah.gov.on.ca.

More information on this and other measures in Canada's Economic Action Plan can be found at www.actionplan.gc.ca. 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 www.cmhc.ca/housingactionplan.

Disponible en français

For more information visit: http://www.cmhc.ca www.mah.gov.on.ca.

Contact Information

  • Media Inquiries: Michelle Bakos, Office of Minister Finley, (819) 994-2482; Beth Bailey, Canada Mortgage and Housing Corporation, (416) 218-3355; Adam Grachnik, Office of Minister Watson, (416) 585-6492; Louise Stevens, City of London, (519) 661-2500 x 5727