Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 13, 2016 09:00 ET

Social Infrastructure Spending Strengthens Communities and Grows the Economy in Prince Edward Island

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwired - June 13, 2016) - The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, and the Honourable Tina Mundy, PEI Minister of Family and Human Services, Minister Responsible for Seniors, 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, supporting affordable housing for seniors, increasing housing options 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 Prince Edward Island, 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 over the next two years.

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." - Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation

"We value our relationship with the federal government and appreciate the shared importance of social infrastructure across the country. This funding announcement is a positive first step in the process to improve housing situations for Islanders and we look forward to working with our federal partners to find innovative and new ways to help support Islanders who need it the most." - Tina Mundy, Minister of Family and Human Services for Prince Edward Island

Quick Facts

  • In addition to existing funding under the Investment in Affordable Housing (IAH), the funding levels by the Governments of Canada and Prince Edward Island have been doubled to more than $6.2 million over two years.
  • The Government of Prince Edward Island 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. Initiatives can include, for example, new construction, renovation, affordability assistance and independent living (accessibility, modifications for persons with disabilities and seniors), and increased housing options for victims of family violence.

Through the IAH, the Government of Canada is also providing to Prince Edward Island over two years:

  • more than $1.2 million to support the construction, repair and adaption of affordable housing for seniors;
  • close to $2 million to increase housing options for victims of family violence and help address the increasing demand for repairs as social housing units age, and to improve efficiency and reduce energy and water use.

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, we contribute 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 our 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 Department of Family and Human Services has housing units for those who require affordable housing solutions. The Department also has a number of programs that help people pay for renovations or modifications to their homes. More information on these programs is available by calling 1-855-374-7366 or by going to www.gov.pe.ca/go/housing. Connect with the Government of PEI on Facebook, Twitter, and YouTube.

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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