SAINT JOHN, NEW BRUNSWICK--(Marketwired - Sept. 2, 2016) - The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, along with the Honourable Brian Gallant, Premier of New Brunswick, and the Honourable Stephen Horsman, Deputy Premier and Minister of Families and Children, 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 initiative, supporting affordable housing for seniors and victims of family violence, and addressing repairs of existing social housing.
Federal Budget 2016 investments in affordable housing will provide targeted support to those who need it most, including in New Brunswick, 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." - Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation
"By working with the Trudeau government we are getting things done to advance the economy and improve education and health care. This agreement is a great example of how by working together we are improving the quality of life for New Brunswickers. " - Brian Gallant, Premier of New Brunswick
- A new investment of $40.2 million from the federal government and $16.4 million from the provincial government will help the people of New Brunswick in need access affordable housing.
- The new two-year funding includes:
- $6.5 million to support the construction, repair and adaption of affordable housing for seniors;
- $3.8 million to support the construction and renovation of shelters and transition houses for victims of family violence;
- $13.5 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,
- $32.8 million as part of the commitment to double funding levels under the IAH.
- The funding is in addition to $78 million joint five-year funding provided by the governments of Canada and New Brunswick under the IAH agreement to help create more affordable housing options in New Brunswick.
- The Government of New Brunswick 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 www.cmhc.ca or follow CMHC on Twitter, YouTube, LinkedIn and Facebook
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.
(i) Part of this funding will be delivered through Indigenous and Northern Affairs Canada (INAC).