CMHC: Governments of Canada and New Brunswick Celebrate new Affordable Housing in Tracadie-Sheila

TRACADIE-SHEILA, NEW BRUNSWICK--(Marketwire - Nov. 28, 2011) - Robert Goguen, Parliamentary Secretary to the Minister of Justice and Member of Parliament for Moncton-Riverview-Dieppe, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); and Claude Landry, Member of the New Brunswick Legislative Assembly, on behalf of the Honourable Sue Stultz, New Brunswick Minister of Social Development and Minister Responsible for Housing, today participated in the official opening of Habitation Saint-Joseph in Tracadie-Sheila, that will provide twenty-five affordable housing units for low-income seniors and persons with disabilities.

Funding in the amount of $800,000 was made available for Habitation Saint-Joseph through Canada's Economic Action Plan, the federal government's plan to stimulate the economy and create jobs during the global recession. The federal and provincial governments are contributing equally to this overall investment of almost $74.6 million under the amended Canada-New Brunswick Affordable Housing Program Agreement.

Canada's Economic Action Plan provided $475 million, over two years, to build new rental housing for low-income seniors and persons with disabilities. Overall, the Economic Action Plan included $2 billion for the construction of new and the renovation of existing social housing, plus $2 billion in low-cost loans to municipalities for housing-related infrastructure.

"Our Government is investing in affordable housing here in Tracadie-Sheila, to help create jobs and improve the quality of life for those who need it most," said MP Goguen. "These initiatives will help seniors and persons with disabilities living on low-income in our community access safe and affordable housing that meets their needs."

"With the opening of these new units, we are making a difference in the lives of low-income seniors and people with disabilities in our community," said Tracadie-Sheila MLA Claude Landry. "With the continued support of our partners, we are helping New Brunswickers care for their families by investing in safe and affordable housing for low-income individuals, families and people with disabilities in New Brunswick."

The apartment complex, located at 601 Saulnier Street West was completed in June, and will be operated by Habitation Saint-Joseph Inc., a non-profit organization. The development was built to high energy-efficiency standards and involved consultation with Efficiency NB. Builders of multi-unit residential buildings may qualify to receive incentives from Efficiency NB if the building meets energy efficiency targets.

In addition to the federal funding provided through Canada's Economic Action Plan, the $2.6 million project is receiving close to $1.6 million in rent supplements from the provincial government for 20 of the 25 units.

In 2009, the Government of Canada committed more than $1.9 billion over five years to improve and build new affordable housing and to help the homeless. As part of this investment, the Affordable Housing Initiative and the federal renovation programs for low-income households were extended for two years, which represented $15.6 million in federal funding for New Brunswick. A new agreement signed in November 2011 by both levels of government implements New Brunswick's allocation of the remaining three years of the $1.9 billion, which amounts to a further $23.4 million in federal funding for New Brunswick residents in housing need.

More information on this and other measures in Canada's Economic Action Plan, the federal government's plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: www.actionplan.gc.ca.

To find out more about how the Government of Canada, through CMHC, is working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan.

For information on the Investment in Affordable Housing 2011-2014 Framework Agreement visit: www.cmhc.ca/en/corp/nero/nere/2011/2011-07-04-0930.cfm.