New Affordable Rental Housing Opens in Regina

REGINA, SASKATCHEWAN--(Marketwired - Sept. 9, 2014) - The Government of Canada and the Province of Saskatchewan, along with Deveraux Developments, today celebrated the completion of a new rental project in Regina. These units will benefit individuals living on moderate-income by providing quality housing and accessibility.

Ray Boughen, Member of Parliament for Palliser, on behalf of the Honourable Candice Bergen, Minister of State (Social Development), along with Warren Steinley, Member of the Legislative Assembly for Regina Walsh Acres, on behalf of the Honourable Donna Harpauer, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation, made the announcement.

"It is gratifying to see this newly constructed safe and affordable housing development in south west Regina," said MP Boughen. "The combined investments in affordable housing here in Regina not only provide improved quality of life to those who live in these units, but also contribute to the city's social well-being and economic strength."

"The Government of Saskatchewan, through Saskatchewan Housing Corporation, is proud to work with the federal government, the City of Regina and Deveraux Developments to ensure citizens in Regina have access to affordable housing," said MLA Steinley. "Today's announcement is an example of the Saskatchewan Plan for Growth in action, where the public and private sectors work as a team to improve the quality of life of all Saskatchewan people."

"We are pleased to complete another successful project with the Saskatchewan Housing Corporation and further support the Province's initiative to provide quality affordable rental housing," Jamie McDougald,, COO of Deveraux Developments said.

Deveraux Heights consists of 160 units in three separate buildings. Saskatchewan Housing Corporation has provided $1.2 million from the federal/ provincial Investment in Affordable Housing 2011-2014 Agreement to reduce the rent of 30 affordable housing units within this project in Regina for moderate-income renters under the Capital Rent Subsidy (CRS) program. The 30 subsidized units are a mix of one-and two-bedroom units, located in the three buildings. In addition to the CRS funding, Saskatchewan Housing Corporation is also providing up to $800,000 under the Rental Construction Incentive (RCI) to the City of Regina to match the City's five-year municipal tax abatement for this project.

Annually, the Government of Canada, through CMHC, will invest approximately $2 billion in housing. Of this amount, $1.7 billion will be spent in support of close to 600,000 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. From April 2011 to June 30 2014, close to 184,000 households have benefited from this investment nationally, including 1,673 households in Saskatchewan.

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. Since 2011, the Government of Saskatchewan has invested $326 million to develop more than 5,600 units and repair more than 24,300 homes 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.