Subject: MORTGAGES, MORTGAGE RATE
Celebrating New Affordable Rental Homes in Toronto
TORONTO, ONTARIO--(Marketwired - May 17, 2017) - A grand opening ceremony was held today for new affordable rental homes at Casa Emery Village in the City of Toronto.
The mixed-use facility consists of 348 units of affordable rental housing, including a number of units designated for seniors and recent immigrants. This building is part of a larger development that, once completed, will be the cornerstone of Toronto's growing Emery Village.
Casa Emery Village received nearly $36.7 million in funding from the Government of Canada and Government of Ontario through the Investment in Affordable Housing agreement. It was also supported with $7.1 million in financial assistance from the City of Toronto. This investment is delivering 348 affordable rental housing units for those in need, including seniors and recent immigrants. Amenities for residents include a library/study area, party room, gym, laundry facilities and bicycle room, as well as commercial space.
Judy Sgro, Member of Parliament for Humber River-Black Creek, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, along with the Honourable Chris Ballard, Ontario's Minister of Housing and the Minister Responsible for the Poverty Reduction Strategy, were on hand for the announcement. Councillor Ana Bailão, the City of Toronto's Housing Advocate and Chair, Affordable Housing Committee, also spoke.
Quick Facts:
The event also celebrated several other affordable housing developments in the City of Toronto, all of which received funding through the Canada-Ontario Investment in Affordable Housing agreement, including:
- Fifty units of affordable housing at 230 Sackville St. as part of the Regent Park Revitalization Plan, which received more than $14 million.
- Forty units of affordable housing at 180 Sackville St., also part of the Regent Park Revitalization Plan, which received $4.8 million.
- Twelve units of affordable housing for off-reserve Indigenous residents at 22-26 Norwood Road, which received $2.1 million.
- Four units of affordable housing at 1330 Wilson Ave., which received $597,750.
- Four units of affordable housing at 3207 Kingston Rd., which received $547,200.
Quotes:
"Our Government is investing in affordable housing here in Toronto and across Canada to help create jobs and improve the quality of life for those who need it most. Thanks to the combined efforts of our partners, we are able to give a helping hand to individuals in need, and in doing so, we are contributing to the economic and social well-being of the entire community." - Judy Sgro, Member of Parliament for Humber River-Black Creek
"Ontario continues to be a strong partner to the City of Toronto, delivering efficient, people-centred housing programs for residents so they can continue to put down roots in the neighbourhoods they love. Working together, we can ensure that every family has an affordable place to live in the city they call home." - Chris Ballard, Ontario's Minister of Housing and Minister Responsible for the Poverty Reduction Strategy
"I want to thank the team at Medallion Corporation for their dedication to building quality affordable housing in Toronto. It is only through strong and ongoing commitments from our provincial, federal and development partners that the City can succeed in providing suitable housing for all residents." - Ana Bailão, Chair, City of Toronto Affordable Housing Committee
"Since the beginning, Medallion has been thrilled to be an active partner in this transformational development and to work alongside all levels of government to ensure housing affordability is a priority. This collaboration has been years in the making and today we are proud to stand beside our partners to celebrate the success of a significant community milestone. Casa at Emery Village is a story of quality housing and accessibility and we also celebrate the new residents who will make it their home." - Howard Paskowitz, M.B.A., Senior Development Manager, Medallion Corporation
Associated links:
- 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.
- Investing in affordable housing programs is part of Ontario's plan to create jobs, grow the economy and help people in their everyday lives. Since 2003, the province has committed more than $5 billion in funding for affordable housing, which has helped support more than 22,000 new affordable rental housing units, more than 335,000 repairs and improvements to social and affordable housing units, and rental and down payment assistance to more than 93,000 households in need. These investments complement the commitments made through Ontario's recent Long-Term Affordable Housing Strategy update, and support the province's goal of ending chronic homelessness by 2025. For more information on affordable housing in Ontario, visit ontario.ca/affordablehousing.
- For information about the City of Toronto's affordable housing initiatives, including the new Open Door Program, please visit www.toronto.ca/affordablehousing
Stay connected:
- Follow CMHC on Twitter, YouTube, LinkedIn and Facebook.
- Follow Ontario's Ministry of Housing on Twitter.
These press releases may also interest you
|
News published on and distributed by:
