MOOSE JAW, SASKATCHEWAN--(Marketwire - July 13, 2012) - Blanchard Holdings Inc., along with the Government of Canada and the Province of Saskatchewan, broke ground on a new housing development that will assist Moose Jaw families in housing need. The project, located at 52 Maple Street East, will consist of 28 rental row-house style units (14 two-bedroom walk out basement units and 14 three-bedroom units on the main and second floors).
Ray Boughen, Member of Parliament for Palliser, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) along with Greg Lawrence, Member of the Legislative Assembly for Moose Jaw Wakamow, on behalf of the Honourable June Draude, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation, made the announcement today.
"Our Government believes that all Canadians need a stable, safe and affordable place to call home," said MP Boughen. "We are committed to helping deliver affordable housing solutions in partnership with the provinces and territories, along with opportunities for economic growth."
"As Moose Jaw continues to grow, so does the need for housing that is affordable and meets the diverse needs of our citizens," said MLA Lawrence. "This development is wonderful news for our community, and we are pleased to partner with Blanchard Holdings Inc. and the federal government to help more families find a safe, quality home in which to live and build their future."
The total cost of the development is approximately $3.9 million. The province, through Saskatchewan Housing Corporation, is contributing $2.6 million from the federal/provincial Investment in Affordable Housing 2011-2014 Agreement towards this project. The funding balance, approximately $1.2 million, is being provided by Blanchard Holdings Inc.
"Blanchard Holdings Inc is extremely proud to be part of this great development," said Jon Blanchard, President of Blanchard Holdings Inc. "These 28 units will assist Moose Jaw families who are searching for a quality home to rent. These homes will be built to the highest standards and will exceed all of the Canadian energy standards to ensure that these homes are not only affordable to rent, but also affordable to maintain. This development would not have been made possible without the financial assistance from the Government of Canada and the Province of Saskatchewan."
This funding comes as a result of the recently announced $55 million Investment in Affordable Housing 2011 - 2014 Agreement between the Governments of Canada and Saskatchewan. Under the agreement, the Province of Saskatchewan will use the funds to create new and renovate existing affordable housing for households in need.
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 Saskatchewan, this represents some 29,900 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.
Since March 2011, the Government of Saskatchewan has committed $344 million to housing initiatives. It is expected that these investments will result in over 12,600 new and rejuvenated units. This includes the newly announced Corporate Income Tax Rebate on New Rental Housing - an estimated $34 million for the first five years. Along with the Rental Construction Incentive, the Rebate will create up to 10,000 new rental units, a 29 per cent increase in the primary rental market in Saskatchewan.
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.