Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation
Government of Canada

Government of Canada
Government of Yukon

Government of Yukon

May 23, 2017 12:30 ET

New Affordable Housing Unit in Dawson City Officially Opens

DAWSON CITY, YUKON--(Marketwired - May 23, 2017) -

Note to editors: There is a photo associated with this press release.

The Klondike Development Organization, with support from the governments of Canada and Yukon, officially opened a new eight-unit affordable rental housing project in Dawson City on Sunday.

The new development is a two-storey building on the corner of King Street and 6th Avenue with six one-bedroom units of approximately 480 square feet and two two-bedroom units of approximately 600 square feet in size. The units will be rented at or below the average market rent for comparable housing in Dawson City and are available to lower income households.

Quotes:

"Through investments in affordable housing, our Government is providing assistance to those who need it most here in Yukon and in all corners of the country. We are committed to making communities stronger through projects like these. These investments help create new jobs and stimulate the local economy, while providing access to safe, affordable homes for Canadian seniors, families and individuals."

-The Honourable Larry Bagnell, Member of Parliament for Yukon, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation

"Finding stable, appropriate housing in Dawson has been difficult for a long time. I look forward to seeing the positive outcomes, both at an individual and community level, with this increase in housing options for Dawson City's residents. Our government is committed to investing in Yukon's rural communities to create safe, adequate, affordable housing options that meet the needs of Yukoners."

-Yukon Premier and Minister of Finance, Honourable Sandy Silver

"Safe, adequate housing is a key component of healthy communities. We are pleased to be partnering with the Klondike Development Organization and the Government of Canada to address the need for affordable rental housing in Dawson City. We will continue to work with Yukon's community partners, First Nations and the federal government on affordable housing solutions in Yukon."

-Minister Responsible for Yukon Housing Corporation, Honourable Pauline Frost

"We are proud of this start in locally built and community owned housing and look forward to working with all our valued partners again very soon on the next project."

-President of Klondike Development Organization Brian Stethem

Quick Facts:

- The governments of Canada and Yukon provided $900,000 towards the project through the Yukon government's Municipal Matching Rental Construction Program, while $400,000 of the project was funded under the Affordable Housing Construction Program through the Investment in Affordable Housing Agreement.

- The City of Dawson provided a ten-year property tax rebate grant valued at approximately $265,000, a development fee rebate grant valued at $21,000, and a mortgage guarantee valued at approximately $573,000.

- CMHC has been helping Canadians meet their housing needs for more than 70 years. As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of its operations. For more information, please call 1-800-668-2642 or follow us on Twitter, YouTube, LinkedIn and Facebook.

- Yukon Housing Corporation was established in 1972 under the Housing Corporation Act. Yukon Housing Corporation has a broad mandate to address the housing needs of Yukoners, and develops and administers a variety of programs and services that supports this mandate, including: loans; grants; building science research; education programs; staff housing and social housing. Visit the following links to learn more about the Yukon Housing Corporation or connect with the Government of Yukon.

To view the photo associated with this press release, please visit the following link: http://media3.marketwire.com/docs/KDO.jpg

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