Official Opening of Two Housing Developments in Fredericton

FREDERICTON, NEW BRUNSWICK--(Marketwire - Jan. 18, 2013) - The Honourable Keith Ashfield, Minister of Fisheries and Oceans, Minister for the Atlantic Gateway, Member of Parliament for Fredericton and Minister Responsible for New Brunswick on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with the Honourable Troy Lifford, New Brunswick Minister of Human Resources, on behalf of the Honourable Madeleine Dubé, New Brunswick Minister of Social Development, today participated in the official opening of two housing developments in Fredericton that provide a total of 75 affordable housing units for singles, seniors and persons with disabilities.

In total, funding in the amount of $8.1 million was made available for these housing developments through Canada's Economic Action Plan, the federal government's plan to stimulate the economy and create jobs during the global recession. The federal and provincial governments contributed equally to this overall investment of $75 million under the amended Canada-New Brunswick Affordable Housing Program Agreement.

"The Harper Government is proud to contribute more than $3 million in funding for these projects," said Minister Ashfield. "The 75 units will provide quality, affordable housing and benefit the economic and social well-being of the entire community."

"Investing in affordable housing is fundamental to rebuilding New Brunswick together," said Minister Lifford. "I am pleased to celebrate these projects, which show our government's commitment to enhancing the quality of life of New Brunswickers and their families, while living within our means."

Terrance Court is a 41-unit complex located at 8 Terrance Street, in Fredericton's north end. In addition to the $1.6 million in federal housing funding for low-income seniors and persons with disabilities provided through Canada's Economic Action Plan, the project received $3.1 million in rent supplements from the provincial government for 40 units.

Brookside Court is a 36-unit development, located nearby, at 287 Brookside Drive. In addition to the $720,000 housing funding for low-income seniors, non-elderly singles and persons with disabilities provided through Canada's Economic Action Plan, the project received $2.7 million in rent supplements from the provincial government for 35 units. Funding in the amount of $680,000 was also made available through the Affordable Housing Trust. Both projects were developed by Tannery Court Co-operative Ltd.

These new affordable housing units are part of the New Brunswick Government's strategy to rebuild New Brunswick together and enhance the quality of life of its residents. The investments made by the provincial government are helping to build and strengthen communities in New Brunswick by providing quality, affordable housing options for low-income individuals, families and seniors. For more information on affordable housing projects in New Brunswick, visit www.gnb.ca/socialdevelopment.

The Government of Canada, through CMHC, will invest approximately $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. In New Brunswick, this represents some 16,300 households. 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 find out more about how the Government of Canada, through CMHC, is working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca.