Governments of Canada and Prince Edward Island Celebrate New Affordable Housing in Summerside

SUMMERSIDE, PRINCE EDWARD ISLAND--(Marketwire - April 16, 2012) - The Honourable Gail Shea, Minister of National Revenue and Regional Minister for Prince Edward Island, 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 the Honourable Valerie E. Docherty, Minister of Community Services and Seniors, celebrated today the official opening of the Summerside Seniors Housing Project, a local housing initiative for seniors.

Funding of approximately $4 million was made available for the construction of a new 34-unit development for seniors through Canada's Economic Action Plan, the federal government's plan to stimulate the economy and create jobs during the global recession. At the same event, both governments also announced funding of more than $290,000 for the construction of a new 13 unit development for seniors and persons with disabilities also funded under Canada's Economic Action Plan. The federal and provincial governments are contributing equally to an overall investment of $8.54 million under the Canada - Prince Edward Island Affordable Housing Agreement.

"Through Canada's Economic Action Plan, our Government is providing a hand-up to those who need it most here in Prince Edward Island and in all corners of the country," said Minister Shea. "We are committed to making communities stronger through projects like these ones. These investments help create new jobs and stimulate the local economy, while providing more access to safe, affordable homes for Canadian seniors and persons with disabilities."

"The Summerside Seniors Housing Project is a significant achievement for the Government of Prince Edward Island as it is the first affordable housing project built, owned and operated by the Province in nearly 20 years," said Minister Docherty.

The Summerside Seniors Housing Project is located in central Summerside within easy access to services. It features modern, energy efficient one and two-bedroom apartments, including accessible and barrier-free units. This housing project increases the number of subsidized seniors units in Summerside to more than 175. Independence Place provides 13 affordable housing units; of which nine are for low-income seniors and four are for persons with disabilities.

The provincial Department of Community Services and Seniors operates housing units across the province for families, seniors and persons living with disabilities who require assistance finding affordable and appropriate homes. The Seniors' Housing program supports housing units in 35 communities across the province.

Islanders aged 60 and older are eligible for assistance. The province partners with the Government of Canada to provide these enhancements to housing options on Prince Edward Island.

The Government of Canada, through CMHC, will invest more than $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of almost 615,000 households living in existing social housing. In Prince Edward Island, this represents some 3,100 households. 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.

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