Affordable Housing Complex Benefits from Renovation Funding in Toronto

TORONTO, ONTARIO--(Marketwired - March 7, 2014) - The governments of Canada and Ontario joined the City of Toronto today to celebrate the renovation of two rental housing buildings for low-income families, located at 2667 and 2677 Kipling Avenue.

Ted Opitz, Member of Parliament for Etobicoke Centre, on behalf of the Honourable Candice Bergen, Minister of State (Social Development); Shafiq Qaadri, Member of Provincial Parliament for Etobicoke North, on behalf of the Honourable Linda Jeffrey, Minister of Municipal Affairs and Housing; and Vincent Crisanti, City of Toronto Councillor (Ward 1, Etobicoke North), made the announcement today.

"Through investments in affordable housing, our Government is providing assistance to those who need it most here in Ontario and in all corners of the country," said MP Opitz. "These renovations help create new jobs and stimulate the local economy, while providing access to safe, affordable homes for Canadian families."

"This newly renovated rental housing complex provides families with access to more stable, safe and affordable homes," said MPP Qaadri. "As One Ontario, we are working to build a successful, compassionate and united province where everyone has the opportunity to connect, contribute and enjoy a high quality of life."

"These improvements mean a lot to the people who call these buildings home," Councillor Crisanti said. "I want to congratulate Roslyn Brown and Humber Properties for partnering with the federal and provincial governments, and the City of Toronto to repair and revive affordable rental homes in my community."

The two rental housing buildings operated by Humber Property Management, received $1.83 million from the federal and provincial governments. The funding supports renovations to the roof, boiler room, flooring and finishing, kitchens, bathrooms, and six elevators (three in each building).

The newly installed elevators provide our tenants with a safe and dependable way to get where they're going," said Roslyn Brown, Vice President at Humber Property Management. "With funding also going towards energy-efficient heating, we can pass on these cost-saving measures to our tenants and redirect money to improving building services and common areas."

This funding comes as a result of the $481 million Investment in Affordable Housing 2011-2014 Agreement between the governments of Canada and Ontario.

Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), invests approximately $2 billion in housing. Of this amount, $1.7 billion in federal funding is provided in support of close to 600,000 individuals and families living in existing social housing both on- and off-reserve. In Ontario, this represents an estimated 237,950 households. The remaining funding supports housing-related activities and affordable housing programs, including the Investment in Affordable Housing. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people. Economic Action Plan 2013 continues this commitment with a federal investment of more than $1.25 billion over five years to renew the Investment in Affordable Housing to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour. Close to 177,600 households across Canada are no longer in housing need as a result of funding provided under the IAH from April 1, 2011 to December 31, 2013.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Ontario's funding commitment of nearly $3 billion since 2003 is the largest affordable housing program in the province's history, supporting the creation of over 17,000 affordable rental housing units; making more than 263,000 repairs and improvements to social and affordable housing units, and providing rental down payment assistance to over 81,000 households in need. The province's Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario.

Affordable housing is a key component of Ontario's Poverty Reduction Strategy. To find out more about affordable housing in Ontario, visit ontario.ca/housing. For more information about affordable housing in Toronto, visit www.toronto.ca/affordablehousing.

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-schl.gc.ca.