New Rental Housing Officially Opens in Regina

REGINA, SASKATCHEWAN--(Marketwired - June 18, 2016) - The Governments of Canada and Saskatchewan, along with 237 Property Developments Inc., celebrated the official opening of 12 new rental units for low- to moderate-income individuals and families in Regina.

The Honourable Ralph Goodale, Minister of Public Safety and Emergency Preparedness, on behalf of Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Laura Ross, Member of the Legislative Assembly for Regina Rochdale, on behalf of the Honourable Donna Harpauer, Minister of Social Services and Minister Responsible for the Saskatchewan Housing Corporation, made the announcement today.

Quick facts:

• This project is owned by 237 Property Development Inc. It consists of varying housing styles and unit sizes at locations around the City of Regina.
• The 12 rental units are a mix of two-storey single-family style units, in addition to up/down duplexes. Sizes range from 988 square feet or approximately 92 square metres for two-bedroom units to 1,360 square feet or approximately 126 square metres for three-bedroom units.
• The Federal and Provincial Governments, through CMHC and SHC, are jointly contributing $240,000 towards six of the 12 units under the Canada-Saskatchewan Investment in Affordable Housing (2014-2019) Agreement.
• 237 Property Developments Inc. contributed about $2.7 million to the 12-unit development in the form of cash/land equity and mortgage financing.

Quotes:

"Our Government is investing in affordable housing here in Regina and across Canada to help create jobs and improve the quality of life for those who need it most. With our partners, we are providing a helping hand for individuals and families in need, and in doing so, we are contributing to the economic and social well-being of the entire community." - Honourable Ralph Goodale, Minister of Public Safety and Emergency Preparedness

"We are proud to work with the Government of Canada and 237 Property Developments Inc. to provide another affordable housing option to individuals and families with moderate incomes. Our goal is to keep Saskatchewan strong and together with our partners, we are pleased to bring this project to fruition and ensure that Saskatchewan people have a great place to call home."- Laura Ross, Member of the Legislative Assembly for Regina Rochdale, on behalf of the Honourable Donna Harpauer, Minister of Social Services and Minister Responsible for Saskatchewan Housing Corporation

"We at 237 Property Developments Inc. are pleased to have been a part of this special project. We believe wholeheartedly in giving back to the community, and what better way than assisting in the construction of affordable units for individuals and families in our very own city. We extend gratitude and thanks to both the Government of Canada and the Province in helping make this project come to life, as well as the many tradespeople that we work with daily. Without their hard work and dedication, this project wouldn't have come together. Together we can make a difference and be the change for our community." - Nicki Ackerman, Property Manager, 237 Property Developments Inc.

Associated links:

• 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, provide support for Canadians in housing need, and offer 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 visit www.cmhc.ca.

• 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 2007, the Government of Saskatchewan has invested almost $700 million to develop and repair more than 14,600 homes around the province.

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