EDMONTON, ALBERTA--(Marketwired - Oct. 21, 2016) - The Honourable Amarjeet Sohi, Minister of Infrastructure and Communities, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, along with the Honourable Lori Sigurdson, Minister of Seniors and Housing, today announced measures to give Canadians greater access to more affordable housing. These measures include the doubling of current funding under the Investment in Affordable Housing (IAH), supporting affordable housing for seniors and victims of family violence, and addressing repairs of existing social housing. Under the two-year agreement, $94.5 million will be committed from the federal government and $42.4 million from the provincial government to affordable housing investments in Alberta.
Federal Budget 2016 investments in affordable housing will provide targeted support to those who need it most, including in Alberta, and create good jobs that help grow Canada's economy in a clean and sustainable way. The federal and provincial governments will work together to quickly deliver the new funding.
"Our Government remains committed to making significant investments in affordable housing, strengthening Canadian communities and helping create jobs and grow the middle class and those fighting hard to join it. We are providing better places for families, seniors and individuals to live and grow, and building a strong foundation for a sustainable economic future." -Honourable Amarjeet Sohi, Minister of Infrastructure and Communities
"Albertans deserve a safe and affordable place to call home and this agreement will help us improve the lives of tenants. The new funding is welcome and adds to the Alberta government's investment of more than $1 billion for affordable housing over the next five years." --Honourable Lori Sigurdson, Minister of Seniors and Housing
- A new investment of $94.5 million from the federal government and $42.4 million from the provincial government will help Albertans in need access affordable housing.
- The new two-year funding includes:
- $16.9 million to support the construction, repair and adaption of affordable housing for seniors;
- $6.1 million to support the construction and renovation of shelters and transition houses for victims of family violence;
- $29 million to help address the increasing demand for repairs as social housing units age, and to improve efficiency and reduce energy and water use; and,
- $84.8 million as part of the commitment to double funding levels under the IAH to invest in major renovations and construction of new social housing projects and seniors lodges.
- The funding is in addition to $323 million joint five-year funding provided by the governments of Canada and Alberta under the IAH agreement to help create more affordable housing options in Alberta.
- The Government of Alberta is responsible for choosing the programs they design and deliver, and also has the flexibility to invest in a range of affordable housing programs in order to meet local needs.
- 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 cmhc.ca or follow CMHC on Twitter, YouTube, LinkedIn and Facebook.
- Canadians are invited to help shape a National Housing Strategy by joining the conversation on www.LetsTalkHousing.ca. Your ideas will contribute to the future of housing in Canada.
- The Alberta government ministry of Seniors and Housing fosters the development of affordable housing and supports access to housing options for Albertans most in need. To achieve these outcomes, the ministry works with seniors, Albertans who require housing supports, their families and caregivers, communities and other government partners. The Alberta Jobs Plan is committing $1.2 billion for affordable housing capital needs over the next five years. A more detailed description of the ministry and its programs and initiatives can be found at www.seniors-housing.gov.ab.ca.
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(i) to address the housing needs in the North and Inuit communities.
- $490 million for retrofits and renovations of social housing units in Canada. This funding is in addition to the $77.7 million being delivered by the Government of Canada, through Canada Mortgage and Housing Corporation.
Alberta's Investment in Affordable Housing
As part of the Budget 2016 Capital plan, the Alberta government is investing $1.2 billion in the preservation, regeneration and expansion of affordable housing over five years:
- $14 million for planning;
- $298 million for capital maintenance and renewal;
- $147 million for new housing supply - affordable housing;
- $13 million for new housing supply - homeless and specialized populations;
- $120 million for new housing supply - off-reserve housing;
- $582 million for sustainable housing renewal - rural and urban.
(i) Part of this funding will be delivered through Indigenous and Northern Affairs Canada (INAC).