Governments of Canada and Saskatchewan Celebrate Affordable Housing in Moose Jaw

MOOSE JAW, SASKATCHEWAN--(Marketwired - March 7, 2014) - Low-to-moderate-income citizens in Moose Jaw will enjoy improved housing quality as a result of renovations to 23 units at the Balmoral Apartments located at 822 Main Street North. The renovations were made possible by a joint investment from the governments of Canada and Saskatchewan.

Ray Boughen, Member of Parliament for Palliser, on behalf of the Honourable Candice Bergen, Minister of State (Social Development), along with Warren Michelson, Member of the Legislative Assembly for Moose Jaw North, on behalf of the Honourable June Draude, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation, made the announcement today.

"Our Government is committed to helping those who need it most here in Saskatchewan," said MP Boughen. "That's why we are proud to have invested in the renovation and retrofit of these 23 units in Moose Jaw, which will go a long way to providing safe, affordable homes for years to come."

"Together with our partners, we are doing what we can to ensure that the housing needs of Saskatchewan people are being met," said MLA Michelson. "Our Government wants to build the very best province in the country, the province that we knew it could always be. We are proud to work with the Government of Canada and MMRD Properties Inc. to help fill a need for good quality housing right here in Moose Jaw."

"Everyone deserves a safe and comfortable place to call home, no matter their income level or social status," said Derek Rawlings, President of MMRD Properties Inc. "My partners and I are proud of what's been accomplished - we've managed to update and modernize all the necessities for the 21^st century while still capturing our building's heritage, character and charm. The Balmoral Apartments are nearly a century old, and with the help of the federal and provincial governments, we'll continue to be part of the rich community fabric that makes the city of Moose Jaw so unique for decades to come."

The Government of Canada, through Canada Mortgage and Housing Corporation (CMHC) and the Province of Saskatchewan, through Saskatchewan Housing Corporation (SHC), jointly contributed close to $662,000 towards the renovation cost estimated at $965,000. The owners, MMRD Properties Inc., provided the funding balance of $303,000 through cash equity. The renovations consist of electrical, plumbing, structural repairs and renewal of interiors.

This funding comes as a result of the $55 million Canada-Saskatchewan Investment in Affordable Housing (IAH) 2011-2014 Agreement. Under the agreement, the Province of Saskatchewan will use the funds to create new and renovate existing affordable housing for households in need.

Annually, the Government of Canada, through CMHC, will invest approximately $2 billion in housing. Of this amount, $1.7 billion will be spent in support of close to 600,000 households living in existing social housing. In Saskatchewan, this represents an estimated 28,000 households. The remaining funding supports housing-related activities and affordable housing programs, including the Investment in Affordable Housing. 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. Economic Action Plan 2013 continues this commitment with a federal investment of more than $1.25 billion over five years to renew the Investment in Affordable Housing to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour. Close to 177,600 households across Canada are no longer in housing need as a result of funding provided under the IAH from April 1, 2011 to December 31, 2013.

In October 2012, the Government of Saskatchewan released the Saskatchewan Plan for Growth: Vision 2020 and Beyond, which sets out the Government's vision for a province of 1.2 million people by 2020. The Plan identifies principles, goals and actions to ensure Saskatchewan is capturing the opportunities and meeting the challenges of a growing province. Under the Plan, the province has invested $344 million to help create 12,600 new housing units and repair or upgrade approximately 24,000 more housing units around the province.

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.