Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation
Government of Canada

Government of Canada
Government of Yukon

Government of Yukon

July 14, 2016 16:00 ET

Social Infrastructure Spending Strengthens Communities and Grows the Yukon Economy

WHITEHORSE, YUKON--(Marketwired - July 14, 2016) - The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, and the Honourable Stacey Hassard, Minister of Yukon Housing Corporation, today announced measures to give Canadians greater access to more affordable housing, including the doubling of current funding under the Investment in Affordable Housing initiative, addressing high housing needs in the North, supporting affordable housing for seniors, building and renovating shelters and transition houses for victims of family violence, and addressing repairs and improving energy and water efficiency of existing social housing.

Federal Budget 2016 investments in affordable housing will provide targeted support to those who need it most, including in Yukon, and create good jobs that help grow Canada's economy in a clean and sustainable way. The federal and territorial governments will work together to quickly deliver the new funding.

Quotes

"All Canadians need and deserve housing that is safe, adequate and affordable. Through new investments in housing, the Government is helping to strengthen the economy and improve the quality of life for Canadians, providing better places to live and grow." - The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation

"This additional funding will support the delivery of a number of housing programs and projects that have been initiated by our government. These programs focus on helping those most in need and contribute significantly to improving the quality of life for Yukoners." - The Honourable Stacey Hassard, Minister responsible for Yukon Housing Corporation.

Quick Facts

  • In addition to existing funding under the Investment in Affordable Housing (IAH), the funding levels by the Governments of Canada and Yukon have been doubled to more than $6.6 million over two years.
  • The Government of Yukon, through Yukon Housing Corporation, is responsible for choosing the programs they design and deliver. Yukon has the flexibility to invest in a range of affordable housing programs in order to meet housing needs. Initiatives can include, for example, new construction, renovation, affordability assistance and independent living (accessibility, modifications for persons with disabilities and seniors), and support of accommodations for victims of family violence.

Through the IAH, the Government of Canada is also providing to Yukon over two years:

  • more than $1.3 million to support the construction, repair and adaptation of affordable housing for seniors;
  • almost half a million dollars to support the construction and renovation of shelters and transition houses for victims of family violence;
  • more than half a million dollars to help address the increasing demand for repairs as social housing units age, and to improve efficiency and reduce energy and water use.

As the need for affordable housing is also particularly high in the North, the Government of Canada is providing an additional $8 million over two years to address urgent housing needs in Yukon.

Stay Connected

  • Canada Mortgage and Housing Corporation (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 CMHC's operations. For more information, please call 1-800-668-2642 or visit www.cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.

  • The 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. For more information, visit www.housing.yk.ca.

BACKGROUNDER

Investments in Affordable Housing in Canada

Measures over the next two years to give Canadians greater access to more affordable housing include:

Doubling of the current IAH funding levels by the Government of Canada and provinces and territories, to more than $1 billion over two years, starting in 2016-2017 and 2017-2018.

Through the IAH, the Government of Canada is also providing over two years:

  • $200.1 million to support the construction, repair and adaption of affordable housing for seniors;

  • $89.9 million to support victims of family violence, and the construction and renovation of shelters and transition houses; and

  • $177.7 million to address the housing needs in the North and Inuit communities.

To support $573.9 million for retrofits and renovations of social housing units in Canada, at least $485 million is also provided through the IAH and $82.7 million is delivered by the Government of Canada, through Canada Mortgage and Housing Corporation.

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