CANADA INVESTS NEARLY $94M TO BUILD MORE THAN 500 NEW HOMES IN EDMONTON

EDMONTON, AB, June 9, 2023 /CNW/ - Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion and the Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance and Member of Parliament for Edmonton Centre, alongside Amarjeet Sohi, Mayor of Edmonton, and David Mitton, President of Leston Holdings, announced a federal investment of nearly $94 million. This investment, made through the National Housing Co-Investment Fund (NHCF), will build more than 500 homes in southwest Edmonton, nearly 300 of which are affordable.

In 2022, the Government of Canada announced an investment of $24 million to build 102 affordable homes, already fully occupied, at Heritage Flats Phase One, which opened last fall. The City of Edmonton provided a capital grant of $5.6 million to Phase One. As part of Phase Two funding being announced today, the Government of Canada is investing over $14 million to build an additional 169 homes. This brings the total federal investment in Heritage Flats to more than $38 million to build 271 homes. The second phase of Heritage Flats will be located at 11803-30 Avenue SW, adjacent to Phase One, and is still in construction. These homes are primarily intended for Enoch Cree Nation members, as well as women and their children.

Additionally, the federal government is announcing an investment of nearly $80 million to build over 330 homes, with more than half of them being affordable, at Edgemont Flats. The Edgemont Flats project, located at 5315 Edgemont Blvd NW, will include accessible units for individuals with disabilities, as well as seniors, single parents and new immigrants.

In total, these multifamily buildings will create 605 homes throughout southwest Edmonton, nearly 400 of which are affordable. All three buildings are located close to Enoch Cree Nation and have access to nearby amenities and residents will have access to abundant employment options.

Funding for these projects include:

• $14.5 million from the Government of Canada through the NHCF for the second phase of Heritage Flats and $2.3 million from 12621665 Canada Association; and
• $79.4 million from the Government of Canada through the NHCF for Edgemont Flats and $4.2 million from 12621665 Canada Association.

"Every Canadian deserves a safe and affordable place to call home. Through the National Housing Co-Investment Fund, the Government of Canada is investing in affordable, high quality and energy-efficient homes, increasing access to housing for individuals and families in need. The two phases of Heritage Flats and the Edgemont apartments will add hundreds of affordable homes to this community, benefitting Enoch Cree Nation members, seniors, new immigrants and people with disabilities. This is the National Housing Strategy at work." ? The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"Safe and affordable housing is key to healthy and thriving communities. Today's announcement marks a significant step in tackling the housing crisis; we will once again be providing more affordable housing options for those who need it most right here in Edmonton. These kinds of investments like Heritage Flats and Edgemont Apartments, transform our communities and the lives of people by providing housing where it's needed most. Soon, Enoch Cree Nation members including women and their children, and individuals with disabilities will have access to these safe and secure homes." ? The Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance and Member of Parliament for Edmonton Centre

"Roughly 1 in 4 renters in Edmonton pay more than they afford on housing, but that number is 1 in 3 for Indigenous peoples. That's why Council has earmarked $20 million through 2026 for Indigenous-owned, sustainable affordable housing. These projects are a perfect example of how affordable housing can add value: private, federal and municipal investment is coming together to ensure members of Enoch Cree Nation can live close to amenities, family and their community." ? Amarjeet Sohi, Mayor of Edmonton

"Quality, safe and affordable housing is an essential need for healthy living.  We are thrilled to announce the successful completion of Heritage Flats and plans to develop Heritage Phase two and Edgemont Flats.  All together these projects will add 605 homes to the rental market.  With the support of the public sector, we look forward to creating affordable housing that will have a positive impact on our communities and their residents."? David Mitton, President, Leston Holdings (1980) Ltd.

• The National Housing Co-Investment Fund (NHCF) is a $13.2 billion program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous peoples, people with disabilities, those with mental health or addiction issues, veterans, and young adults.
• Budget 2022 advanced $2.9 billion in funding under the NHCF to accelerate the creation of up to 4,300 new units and the repair of up to 17,800 units.
  
  
• Canada's National Housing Strategy (NHS) is a 10-year, $82-plus billion plan that will give more Canadians a place to call home.
• NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need.
• All NHS investments delivered by the federal, provincial, and territorial governments will respect the key principles of NHS that support partnerships, people, and communities.

• 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 all levels of Canadian government, consumers and the housing industry. CMHC's aim is that by 2030, everyone in Canada has a home they can afford and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.

SOURCE Government of Canada