Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation
Government of New Brunswick

Government of New Brunswick

July 25, 2014 12:15 ET

Governments of Canada and New Brunswick Celebrate New Affordable Housing in Grand Falls

GRAND FALLS, NEW BRUNSWICK--(Marketwired - July 25, 2014) - Nine new affordable housing units for low-income seniors and persons with disabilities were officially opened today in Grand Falls.

Mike Allen, Member of Parliament for Tobique-Mactaquac, on behalf of the Honourable Candice Bergen, Minister of State (Social Development), along with the Honourable Madeleine Dubé, New Brunswick Minister of Social Development, made the announcement.

"We have a strong record of making smart investments in housing to create better outcomes for Canadians and today's announcement is further proof of that," said MP Allen. "Funding projects like Les Villas du Repos not only improves the overall housing conditions in Grand Falls, it strengthens and contributes to our communities."

"Investing in affordable housing is fundamental to rebuilding New Brunswick," said Social Development Minister Madeleine Dubé. "I am pleased to celebrate this project, which shows our government's commitment to enhancing the quality of life of New Brunswickers. These new units will help low-income seniors and persons with disabilities have access to safe and affordable housing that meets their needs."

The 18-unit development is located on Dan's Lane and includes nine affordable housing units. In addition to the $360,000 in federal funding, the housing development received $827,834 in rent supplements from the Province of New Brunswick. The developer of this new housing development is Les Villas du Repos Grand-Sault Inc.

Funding for this project was made available as a result of a joint investment under the 2011-2014 Investment in Affordable Housing program.

Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), will invest approximately $2 billion in housing. Of this amount, $1.7 billion will be spent in support of close to 600,000 households living in existing social housing. In New Brunswick, this represents an estimated 14,250 households. The remaining funding supports housing-related activities and affordable housing programs, including the Investment in Affordable Housing (IAH). 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 continued this commitment with a federal investment of more than $1.25 billion over five years to renew the Investment in Affordable Housing to 2019. From April 2011 to March 2014, the IAH has already helped more than 183,600 households nationally, and more than 5,195 in New Brunswick.

These new affordable housing units are part of the New Brunswick Government's strategy to rebuild New Brunswick together and enhance the quality of life of its residents. The investments made by the provincial government are helping to build and strengthen communities in New Brunswick by providing quality, affordable housing options for low-income individuals, families and seniors. For more information on affordable housing projects in New Brunswick, visit www2.gnb.ca/content/gnb/en/departments/social_development/housing.html.

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.

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