Governments of Canada and Ontario Celebrate New Affordable Housing in Etobicoke

ETOBICOKE, ONTARIO--(Marketwire - June 29, 2011) - Funding of more than $24.4 million for 204 new affordable housing rental units for seniors living on low-income was announced today in Etobicoke. In addition, Etobicoke received more than $4.8 million over the last two years for the repair of 1,061 units of existing social housing.

Ted Opitz, Member of Parliament for Etobicoke Centre, 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 Donna Cansfield, Parliamentary Assistant to the Minister of Municipal Affairs and Housing and Member of Provincial Parliament for Etobicoke Centre, on behalf of the Honourable Rick Bartolucci, Ontario's Minister of Municipal Affairs and Housing, along with Gloria Lindsay Luby, Councillor, Ward 4 Etobicoke Centre, City of Toronto, made the announcement.

"The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most," said MP Opitz. "The development of the Richgrove complex and the investments in renovations and retrofits of several other projects here in Etobicoke will provide families, seniors and persons with disabilities access to quality, affordable housing for years to come."

"Today we have great news for people living in Etobicoke," said MPP Cansfield. "This development will provide seniors living on low or fixed income a place to call home. This project also creates jobs and economic opportunities in the community."

"These new homes will help meet the growing need for seniors housing in my community," Councillor Lindsay Luby said. "On behalf of City Council, I want to congratulate our private sector and government partners and I look forward to welcoming new residents when this building opens in 2012."

The 204-unit project located at 7 Richgrove Drive (Minto Apartments) received more than $24.4 million. The federal and provincial funding is complemented by $2.5 million in municipal financial incentives.

The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends. Canada's Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors and $850 million for the renovation and retrofit of existing provincially/territorially administered social housing. Overall, the Economic Action Plan includes $2 billion for the construction of new and the renovation of existing social housing, plus up to $2 billion in low-cost loans to municipalities for housing-related infrastructure. Canada's Economic Action Plan builds on the Government of Canada's commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2009, the provincial government has provided nearly $183 million to build new rental housing units for low-income seniors and persons with disabilities. Ontario's overall investment of over $2.5 billion has translated into the construction and repair of more than 270,000 housing units and the provision of 35,000 rent supplements for Ontario families on fixed incomes. The province's Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario.

Affordable housing is a key component of Ontario's Poverty Reduction Strategy (http://www.children.gov.on.ca/htdocs/English/breakingthecycle/index.aspx). Download a copy of the Government of Ontario's Long-Term Affordable Housing Strategy (http://www.mah.gov.on.ca/AssetFactory.aspx?did=8590). To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.

More information on this and other measures in Canada's Economic Action Plan can be found at www.actionplan.gc.ca. 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.ca/housingactionplan.

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