Governments of Canada and Ontario Celebrate New Affordable Housing in Toronto

TORONTO, ONTARIO--(Marketwire - Nov. 2, 2012) - The official opening of 237 new affordable rental housing units for seniors living on low income and persons with disabilities was held today in Toronto. The project received more than $28.4 million in funding from the federal and provincial governments. The construction of this project created more than 592 jobs in Toronto.

Mark Adler, Member of Parliament for York 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 Monte Kwinter, Member of Provincial Parliament for York Centre, along with James Pasternak, Councillor (Ward 10 York Centre), City of Toronto, made the announcement.

"I am pleased to be here once again and witness this great accomplishment. The Patricia and Bathurst project, like many others throughout Canada, helps make communities stronger by creating new jobs and stimulating the economy," said MP Adler. "Furthermore, it will give our seniors more options to find safe and affordable housing."

"Our seniors deserve the dignity to live in a home that is safe, stable and affordable," said Monte Kwinter, MPP for York Centre. "This project is an example of our government's Long-Term Affordable Housing Strategy and our commitment to making affordable housing more accessible for Ontarians."

"These new affordable homes will allow seniors to live in safety and dignity. I want to congratulate B'nai B'rith and Patricia and Bathurst Developments for their tremendous effort in partnership with the City of Toronto and the federal and provincial governments," said Councillor Pasternak. "It affirms our commitment that we must strive toward an age-friendly city and dedicate ourselves to the truism that societies are often judged on how they treat their aging members."

"B'nai Brith Canada has always been at the cutting edge of both its social service and advocacy," said Eric Bissell, National President of B'nai Brith Canada. "This building provides the highest standard of living accommodation for seniors at an affordable rate, bears witness to B'nai Briths motto 'People Helping People'."

The 237-unit development located at 485 Patricia Avenue in Toronto, received more than $28.4 million in funding. The building will include a Sabbath elevator, library, chapel, social hall, multi-purpose space and cultural programming for residents. The federal and provincial funding is complemented by $3.3 million in municipal financial incentives.

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 605,000 households living in existing social housing. In Ontario, this represents some 237,750 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.

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. Download a copy of the Government of Ontario's Long-Term Affordable Housing Strategy. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.

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.

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For more information visit: www.cmhc.ca

www.ontario.ca/housing

www.toronto.ca/affordablehousing