Subject: MORTGAGES, MORTGAGE RATE
Investments in Affordable Housing for Seniors
ST. ANTHONY, NEWFOUNDLAND AND LABRADOR--(Marketwired - May 22, 2017) - The governments of Canada and Newfoundland and Labrador are investing more than $6.1 million to support the construction of affordable housing for seniors. The funding is part of the $48.9 million under Investments in Affordable Housing announced in October 2016. Conditional approvals have been provided to six non-profit groups to develop projects.
Gudie Hutchings, Parliamentary Secretary for Small Business and Tourism and Member of Parliament for Long Range Mountains, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with the Honourable Christopher Mitchelmore, Minister of Tourism, Industry and Innovation and Minister responsible for the Research and Development Corporation and MHA for St. Barbe - L'Anse aux Meadows, on behalf of the Honourable Sherry Gambin-Walsh, Minister of Children, Seniors and Social Development and Minister Responsible for Newfoundland and Labrador Housing Corporation, made the announcement today.
Quick facts:
- The federal and provincial governments will contribute more than $6 million to six non-profit groups that will create new affordable housing for seniors.
- The projects will create 49 new units for seniors and include 14 fully accessible units
- Seniors have benefitted from more than half of the 1500 new housing units created throughout Newfoundland and Labrador under the Investment in Affordable Housing Agreement.
Quotes:
"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 seniors to live independently, and building a strong foundation for a sustainable economic future."- Gudie Hutchings, Parliamentary Secretary for Small Business and Tourism and Member of Parliament for Long Range Mountains
"These new projects highlight the benefits of partnerships with our non-profit community sector and address real and ongoing seniors' housing needs. This investment will also provide seniors with access to more affordable and accessible housing options throughout the Province." - Honourable Sherry Gambin-Walsh, Minister of Children, Seniors and Social Development and Minister Responsible for Newfoundland and Labrador Housing Corporation
Associated links:
- 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 operations. For more information, please call 1-800-668-2642 or visit www.cmhc.ca.
- Since 2004, the Government of Newfoundland and Labrador has invested $47.2 million to provide affordable housing for low-income individuals, seniors and families. For more information on Newfoundland and Labrador Housing Corporation programs, visit: http://www.nlhc.nf.ca/programs/programs.html
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Backgrounder
Non-Profit Sector Affordable Seniors Housing Projects
| Proponent | Units | Location | Funding |
Eastern Gate Church Inc. |
4 |
St. John's |
$500,000 |
Wesley United Church |
10 |
St. John's |
$1,250,000 |
Cochrane Community Outreach & Performance Centre Inc. |
5 |
St. John's |
$625,000 |
Town of St. Anthony |
10 |
St. Anthony |
$1,250,000 |
Humber Valley Day Care Center Inc. |
10 |
Pasadena |
$1,250,000 |
Evangel Pentecostal Church |
10 |
Gander |
$1,250,000 |
TOTAL |
49 |
$6,125,000 |
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