Governments of Canada and Ontario Celebrate New Affordable Rental Housing in Waterloo Region
July 16, 2015 – Waterloo, ON
The governments of Canada and Ontario celebrated the official opening of seven new affordable rental housing projects for people with disabilities and low-income individuals and families in Waterloo Region today. Combined, these seven projects received more than $5.1 million in funding from the federal and provincial governments. The construction of these new rental housing properties has supported economic growth and helped create 103 jobs in Ontario.
The Honourable Gary Goodyear, Minister of State (Federal Economic Development Agency for Southern Ontario) and Member of Parliament for Cambridge, on behalf of the Honourable Candice Bergen, Minister of State (Social Development); Kathryn McGarry, Member of Provincial Parliament for Cambridge, on behalf of Ted McMeekin, Minister of Municipal Affairs and Housing, and Councillor Geoff Lorentz, on behalf of Region of Waterloo Chair Ken Seiling, made the announcement today.
The event celebrated the official opening of seven new affordable rental housing projects in Waterloo Region. Projects include:
Cambridge Kiwanis Village, 365 Linden Drive in Cambridge received $2,760,000 for 23 units for people with disabilities and low-income individuals.
75 McGuire Lane, in Elmira received $775,423 for 6 units for people with disabilities.
Preston Arbour, in Cambridge received $240,000 for 2 units for people with disabilities.
Nafziger Road, in Wellesley received $189,560 for 2 units for low-income families.
MennoHomes – David Street, in Wellesley received $240,000 for 2 units for low-income families.
MennoHomes – Elmira 2, in Elmira received $360,000 for 3 units for low-income families.
DeafBlind Ontario, in Ayr received $540,000 for 4 units for people with disabilities.
The funding for all seven projects comes as a result of the $481 million Investment in Affordable Housing 2011-2014 Agreement between the Governments of Canada and Ontario. The federal and provincial funding is complemented by $344,646 in federal HST rebates and SEED funding, and more than $3.36 million in municipal grants, land contribution, non-profit and charitable contributions, and loans.
Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC) invests approximately $2 billion in housing. These investments improve 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. Economic Action Plan 2013 continued this commitment with a federal investment of more than $1.25 billion over five years to extend the Investment in Affordable Housing Program to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour.
Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2003, the province has committed more than $4 billion in funding for affordable housing, which has helped support more than 20,000 new affordable rental housing units, more than 275,000 repairs and improvements to social and affordable housing units and rental and down payment assistance to more than 90,000 households in need. Ontario’s Long-Term Affordable Housing Strategy has set a strong foundation for a more efficient, accessible affordable housing system.
Investing in affordable housing is part of the Ontario government’s economic plan to build Ontario up. The four-part plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic and innovative environment where business thrives, and building a secure retirement savings plan.