New Affordable Housing Officially Opens in Regina

REGINA, SASKATCHEWAN--(Marketwired - Nov. 14, 2013) - The Government of Canada and the Province of Saskatchewan, along with Halifax Holdings Inc., today celebrated the official opening of 22 affordable rental-housing units in Regina for families in housing need. The project is comprised of two, three-storey apartment buildings, located at 1927 and 1945 Halifax Street respectively.

Ray Boughen, Member of Parliament for Palliser, on behalf of the Honourable Candice Bergen, Minister of State (Social Development); along with the Honourable June Draude, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation; and Jerry Flegal, Deputy Mayor of the City of Regina, made the announcement today.

"Our Government is investing in affordable housing to help create jobs and improve the quality of life for families who need it most," said MP Boughen. "This funding will help people in Regina, and throughout Saskatchewan, access safe and affordable housing that meets their needs. We remain focused on four priorities, as outlined by the Prime Minister, that Canadians care about most: 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."

"As part of the Saskatchewan Plan for Growth, our government is committed to building a better province for all Saskatchewan people," said Minister Draude. "Housing is in demand as our province grows, and this project will provide 22 more Saskatchewan families with a safe and comfortable home to call their own. We are proud to assist those families by providing funding assistance to make this project a reality."

"The City is proud to participate in this official opening," said Councilor Jerry Flegal. "It is a priority for City Council and the Mayor's Housing Commission to continue to identify and initiate practical solutions for affordable and attainable housing in Regina."

The total cost of the development is approximately $5.2 million. The federal and provincial governments are jointly contributing $2.8 million under the Investment in Affordable Housing 2011-2014 (IAH) Agreement towards the project. The City of Regina is providing $220,000 with the funding balance of approximately $2.2 million being provided by Halifax Holdings Inc. through mortgage financing. The project consists of two new three-storey apartment buildings, each containing 11 rental units for a total of 22 homes. Of special importance are the two new accessible apartments that will help improve the quality of life of the new residents.

"This is the kind of project innovation that allows for the building of affordable long term housing, while enhancing the Heritage Core Community of Regina," said Stephen Onda, President of Halifax Holdings Inc. "Addressing the growing need of housing for families in our city's centre has been greatly helped by this partnership."

Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), will invest approximately $2 billion in housing. Of this amount, $1.7 billion will be spent in support of close to 594,000 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. More than 146,769 households across Canada are no longer in housing need as a result of funding provided under the IAH from April 1, 2011 to June 30, 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.