Governments of Canada and Ontario Celebrate New Affordable Housing in Toronto

TORONTO, ONTARIO--(Marketwired - May 10, 2013) - The Government of Canada, the Government of Ontario, and the City of Toronto celebrated the official opening of Birchmount Woods, a 152-unit affordable housing rental project for low-income families and persons with special needs. Birchmount Woods is supported by more than $10.6 million in funding through the Canada-Ontario Affordable Housing Program. The construction of this project created approximately 380 local jobs.

Roxanne James, Member of Parliament for Scarborough 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 Lorenzo Berardinetti, Member of Provincial Parliament for Scarborough Southwest, on behalf of the Honourable Linda Jeffrey, Ontario's Minister of Municipal Affairs and Housing; along with Michelle Berardinetti, City of Toronto Councillor, (Ward 35, Scarborough Southwest), made the announcement.

"Our Government is helping to make affordable housing available for low-income families and persons with special needs in Toronto and across Canada, helping them to build a stronger future for themselves," said MP James. "We remain focused on four priorities, as outlined by the Prime Minister, that Canadians care most about: their families, the safety of our streets and communities, their pride in being a citizen of this country, and of course, their personal financial security."

"The new Ontario government is committed to improving access to affordable housing for people in need," said MPP Berardinetti. "Projects like Birchmount Woods make a meaningful difference in the lives of residents and contribute to creating safe, stable and healthy communities."

"These 152 affordable homes, including some for victims of domestic violence, are a great addition to this community," Councillor Berardinetti said. "This building is a wonderful example of the power of the partnership between the federal and provincial governments, the City of Toronto and progressive developers like Medallion."

Birchmount Woods is located at 550 Birchmount Road and situated beside two parks - St. Claire Ravine and Warden Woods. Residents will also enjoy easy access to schools, public transportation and shopping. The federal and provincial funding for this project is complemented by more than $2.3 million in municipal incentives from the City of Toronto.

"We are thrilled to be part of this transformational development and help all three levels of government achieve their goals of providing quality homes for people in need," said Howie Paskowitz, Asset Manager, Medallion Corporation. "This collaborative project has been years in the making, and today's grand opening is a celebration of that successful partnership."

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 close to 594,000 households living in existing social housing. In Ontario, this represents some 237,950 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 2003, Ontario's funding commitment of nearly $3 billion is the largest affordable housing program 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 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. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing. For more information about affordable housing in Toronto, visit www.toronto.ca/affordablehousing.

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.

For more information visit:

www.cmhc-schl.gc.ca

www.ontario.ca/housing

www.toronto.ca/affordablehousing