New Affordable Housing Announced for Seniors in Whitehorse

WHITEHORSE, YUKON--(Marketwire - Aug. 15, 2012) - As seniors continue to represent an increasingly larger segment of Yukon's population, the Government of Canada and the Government of Yukon have announced a new $12.65 million housing development that will assist low-income seniors.

Yukon Premier Darrell Pasloski and Member of Parliament for Yukon, Ryan Leef, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) made the announcement today.

"Seniors are Yukon's fastest growing population group, which is projected to almost double by 2021," said Premier Pasloski. "The Yukon government is moving to address the housing needs of seniors and make it easier for them to live at home as their health and mobility levels change. Our communities are enhanced by the presence, knowledge and experience of seniors. By investing in housing that is appropriate for them, we are helping to retain that richness in our communities and we are delivering on the commitments we've made as part of our housing strategy."

"Our Government is committed to giving a hand-up to those who need it most here in Yukon and across Canada." said MP Leef. "That's why we are proud to invest in the construction of these 34 new units for seniors in Whitehorse, which will go a long way to providing safe, affordable homes for years to come."

This funding comes as a result of a $5.91 million Investment in Affordable Housing 2011 - 2014 Agreement between the Governments of Canada and Yukon. Yukon has opted to maintain the existing affordable housing and renovation programs delivery arrangements.

Canada will invest $2.55 million towards the 34-unit seniors' complex. Yukon will contribute nearly $7.4 million, while $2.7 million will be funded through Yukon Housing Corporation's Seniors' Housing Management Fund. The new building will be located on land owned by Yukon Housing Corporation in the downtown core, near shopping, medical services, bus routes and other social amenities.

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. 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.

To learn more about Yukon Housing Corporation visit www.housing.yk.ca.

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.