Joint Government Funding Will Increase Affordable Housing in Calgary

CALGARY, ALBERTA--(Marketwire - Oct. 12, 2012) - Seniors in Calgary have more affordable housing options thanks to investments of more than $4.7 million at Inglewood House by the Government of Canada and the Government of Alberta.

Inglewood House is celebrating its official groundbreaking today. This 43 unit 3-story affordable housing development in Calgary, will contain 8 bachelor units and 35 one-bedroom units of which 5 are barrier-free. These units will help accommodate seniors.

Deepak Obhrai, Parliamentary Secretary to the Minister of Foreign Affairs and Member of Parliament for Calgary East, 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 Wayne Cao, Member of the Legislative Assembly of Alberta for Calgary-Fort, made the announcement today.

"Through Canada's Economic Action Plan, our Government remains committed to helping seniors in Alberta and throughout the country during these tough economic times," said Parliamentary Secretary Obhrai. "Projects like this one are providing safe, affordable housing to many residents in our community while creating jobs and stimulating our economy."

"Inglewood is one of Calgary's most revered communities with a rich history, and the Government of Alberta is a proud partner of this Seniors Affordable Housing Project," said Doug Griffiths, Alberta Municipal Affairs Minister. "I'm pleased the people who helped create this community will have a new and affordable place to call home."

"Inglewood House, a 43 unit affordable housing project for independent seniors, continues the legacy of Inglewood Housing Corporation by replacing a 12 unit complex built in 1976. The new energy efficient building will complement the ongoing development of Inglewood. This project is the result of three years of successful collaboration between the Federal and Provincial Governments on behalf of Inglewood Housing Corporation," said Elaine High, President of Inglewood Housing Corporation.

The federal and provincial governments are contributing equally to an overall investment of $238 million, over two years, under the amended Canada-Alberta Affordable Housing Program Agreement and through Canada's Economic Action Plan.

Non-profit organizations, private businesses and municipalities were eligible to apply for funding through Alberta's Affordable Housing Request for Proposals which leveraged government funding with private-sector dollars. Successful applicants received funding to purchase or build affordable housing units, renovate existing rental units, develop secondary units in private homes or support other options as identified by the community.

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 Alberta, this represents some 38,400 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.

Through partnership with federal and municipal governments, community groups, the non-profit and private sectors, Alberta has made great strides to increase the supply of affordable housing across the province. Since 2003, the Government of Alberta has supported the development of 16,000 affordable housing units for homeless and lower-income Albertans through capital grant funding in 62 communities. For more information on Alberta's housing support, visit www.housing.alberta.ca.

Woodfield Communities Corporation ("Woodfield") is a Canadian real estate development company with multi-unit residential and commercial development and construction experience whose mission is to develop high-quality, sophisticated and affordable living spaces.

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.