Affordable Housing Project Officially Opens in Nipawin

NIPAWIN, SASKATCHEWAN--(Marketwired - Nov. 14, 2014) - The Government of Canada and the Province of Saskatchewan, along with the Town of Nipawin and local investors, celebrated the official opening of a 24-unit, newly constructed apartment building comprising of 14 affordable rental units for individuals and families and 10 market rental units located at 250 Peters Drive (previously 123 - 6^th Street East) in Nipawin.

Randy Hoback, Member of Parliament for Prince Albert, on behalf of the Honourable Candice Bergen, Minister of State (Social Development); along with Fred Bradshaw, Member of the Legislative Assembly for Carrot River Valley, on behalf of the Honourable Donna Harpauer, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation, made the announcement today.

"Working together is the key to achieve our goal of making more affordable housing available to those in need," said MP Hoback. "Projects like Hillside Apartments are living proof that we are on the right track. We appreciate all the partners who made this project a reality."

"We are pleased to work with the Government of Canada and the Town of Nipawin to help those in greatest housing need," said MLA Bradshaw. "This project will support the housing needs of this growing community and add to the quality of life of its residents. Our government is proud to work with our partners to keep Nipawin moving forward and Saskatchewan strong."

"The construction of this 24-unit apartment complex, Hillside Apartments, was seen as a need in Nipawin," said Mayor David Trann. "In collaboration with the Government of Canada, Saskatchewan Housing Corporation, the Town of Nipawin and Bill Wilson and his team, the project came to fruition. Nipawin Town Council completed a housing strategy identifying the need for more options for our residents, with Hillside Apartments fitting nicely into the needs of our community. Nipawin is a growing community and we thank all our partners for contributing to that growth."

The total cost of the project is $3.4 million. The Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), and the Province of Saskatchewan, through Saskatchewan Housing Corporation (SHC), contributed a combined total of approximately $560,000 towards 14 units through the Capital Rent Subsidy program from the federal/provincial Investment in Affordable Housing (IAH) 2014-2019 Agreement.

This funding comes as a result of the recent $91.9 million Canada-Saskatchewan IAH 2014-2019 Agreement. Under the IAH agreement, the Province of Saskatchewan will use the funds to create new and renovate existing affordable housing for households in need.

The 24-unit project will also receive $120,000 through the Government of Saskatchewan's Rental Construction Incentive (RCI), this investment is cost matched by the Town of Nipawin for a total of $240,000. Under the RCI program, the Province will provide more than $156,000 over two years to the Town of Nipawin. The remainder of the project cost will be provided through owner equity and lender financing.

Annually, the Government of Canada, through CMHC, will invest approximately $2 billion in housing. These investments improve 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.

In October 2012, the Government of Saskatchewan released the Saskatchewan Plan for Growth: Vision 2020 and Beyond, which sets out the Government's vision for a province of 1.2 million people by 2020. The Plan identifies principles, goals and actions to ensure Saskatchewan is capturing the opportunities and meeting the challenges of a growing province. Since 2007, the Government of Saskatchewan has invested over $520 million to develop and repair more than 11,600 homes around the province.

November 22^nd is National Housing Day-celebrate with CMHC. Through partnerships at every level, we are helping Canadians meet their housing needs. To find out more call CMHC at 1-800-668-2642 or visit www.cmhc-schl.gc.ca.