TORONTO, ONTARIO--(Marketwire - Nov. 9, 2012) - The official opening of 179 new affordable rental housing units for seniors living on low income, people with disabilities and other low-income households was held today in Toronto. The project received more than $21.4 million in funding from the federal and provincial governments. The construction of this project has created up to 447 jobs.
Brad Butt, Member of Parliament for Mississauga-Streetsville, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); Mario Sergio, Parliamentary Assistant to the Honourable Bob Chiarelli, Minister of Municipal Affairs and Housing; and City of Toronto Councillor Ana Bailão (Ward 18 Davenport), Chair of the Affordable Housing Committee made the announcement.
"Our Government is providing a hand-up to those who need it most here in Toronto and in all corners of the country," said MP Butt. "We are committed to supporting the well-being of seniors, families and persons with disabilities and making communities stronger through projects like the redevelopment of the Centre for Addiction and Mental Health. These investments help create new jobs and stimulate the local economy, while providing access to safe and affordable housing."
"Ontario is committed to improving access to safe, affordable housing options that are well suited to people's needs," said Mario Sergio, Parliamentary Assistant to the Minister of Municipal Affairs and Housing. "I'm pleased that the residents of Verdiroc will have new homes that are integrated into the broader community, with access to public transportation and other amenities."
"I want to congratulate Verdiroc for contributing to the Centre for Addiction and Mental Health redevelopment by providing affordable homes for low-income seniors and families, including persons with disabilities, victims of domestic violence and recent immigrants," said Councillor Bailão. "These 179 new affordable homes demonstrate the continuing power of the partnership between the City of Toronto, federal and provincial governments and private and non-profit communities."
The 179-unit project located at 100 Lower Ossington Avenue, received more than $21.4 million in federal and provincial funding from Canada's Economic Action Plan and the Canada-Ontario Affordable Housing Program. The federal and provincial funding is complemented by $2.6 millions in municipal financial incentives.
The Verdiroc building is located on land leased from the Centre for Addiction and Mental Health (CAMH) and complements a major redevelopment of the CAMH site. The building will feature a green roof and is 29 per cent more energy efficient than current Building Code requirements. Ten of the new apartments will be dedicated to CAMH clients.
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. Since 2003, Ontario's funding commitment of nearly $3 billion is the largest affordable housing programme in the province's history. Ontario is supporting the creation of over 17,000 affordable rental housing units; making more than 263,000 repairs and improvements to social and affordable housing units; and providing rental and down payment assistance to over 81,000 households in need. 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. For more information about the City of Toronto's affordable housing activity, visit www.toronto.ca/affordablehousing.
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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