Funding Announced for New Affordable Housing in Downtown Dawson

DAWSON CITY, YUKON--(Marketwired - Sept. 9, 2016) - Klondike Development Organization has been awarded $900,000 in financial support from the Government of Canada and Yukon Housing Corporation for the construction of an 8-unit affordable housing project in downtown Dawson City.

The new development will be a two-storey building that will include six (6) one-bedroom units of approx. 480 sq. ft. in size, and two (2) two-bedroom units of approximately 600 sq. ft. in size.

"Our government remains committed to making significant investments in affordable housing, strengthening Canadian communities and helping create jobs and grow the middle class," said Larry Bagnell, Member of Parliament for Yukon, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation. "With our partners, we are providing an affordable place for individuals and families to live and grow, and building a strong foundation for a sustainable economic future. Congratulations to everyone involved in this new development."

"Yukon government's investment in this project will improve affordable housing options in Dawson," Minister responsible for Yukon Housing Corporation, Stacey Hassard said. "The Yukon Housing Corporation values Federal support to improve the availability and quality of affordable housing projects for Yukoners. This project will result in economic stimulus, support local business, provide employment, and fill a significant housing need."

This funding is being provided through the Municipal Matching Grant Program and the Affordable Rental Construction Program. These programs are supported by funding from Yukon Housing Corporation and Canada Mortgage and Housing Corporation, under the Investment in Affordable Housing and the Social Infrastructure Fund.

"This financing is welcome and will help us realize our vision of locally built and community owned housing, so that all our residents can contribute to Dawson's growing economy," said Brian Stethem, President of Klondike Development Organization.

CMHC has been helping Canadians meet their housing needs for more than 70 years. As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of CMHC's operations.

The Yukon Housing Corporation was established in 1972 under the Housing Corporation Act. Yukon Housing Corporation has a broad mandate to address the housing needs of Yukoners, and develops and administers a variety of programs and services that supports this mandate, including loans, grants, building science research, education programs, staff housing, and social housing.

Canadians are invited to help shape the National Housing Strategy by joining the conversation on www.LetsTalkHousing.ca. Your ideas will help shape the future of housing in Canada.

Learn more

Canada Mortgage and Housing Corporation: www.cmhc.ca or call 1-800-668-2642.

Yukon Housing Corporation: www.housing.yk.ca.

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