Le Lézard
Classified in: Business
Subjects: ECO, SCZ, CMG, CFG

Making Housing More Affordable for seniors in Tillsonburg


TILLSONBURG, ON, April 23, 2019 /CNW/ - Hard working residents of Tillsonburg deserve to have a safe and affordable place to call home where they can thrive.

Logo: Government of Canada (CNW Group/Canada Mortgage and Housing Corporation)

Today in Tillsonburg, Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development (Housing and Urban Affairs), on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced the construction and funding of 16 new rental housing units to help more people have an affordable place to live.

Through CMHC's Rental Construction Financing initiative (RCFi), the federal government is investing $1.54 million for the construction of a multi-residential 16-unit building. All 16 units will be rented at affordable rates with rents lower than 30% of median family income and set at 80% of the average market rent in the area.

Located at 13 Sanders Street, this project, developed by the Town of Tillsonburg Non-Profit Housing Corporation, will provide affordable housing options close to public transit and services for modest and middle-income seniors.

The RCFi, a National Housing Strategy initiative delivered by CMHC, supports affordable rental housing construction projects to encourage a stable supply of affordable rental housing across the country for middle-class households struggling in expensive housing markets.

Quotes

"These investments create good jobs and grow the local economy, helping people in the community that will soon move into these safe and affordable rental housing units. These projects are making a big difference in building a more sustainable future through more energy-efficient and affordable homes. Our Government is committed to increasing the supply of rental units for Canadians through projects like the one we are announcing today" ? Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development (Housing and Urban Affairs)

"The Town of Tillsonburg has been proud to assist in the facilitation of the valuable introduction of additional affordable housing units for the senior population in our community. This environmentally sensitive project has been realized through the leadership of Tillsonburg Non-Profit Housing Corporation, the County of Oxford and the CMHC. It is truly a project of People Helping People and will prove to be a model for additional developments in our community and region in the future" ? Stephen Molnar, Mayor, Town of Tillsonburg

"Affordable rents at the Sanders Street seniors apartments are possible because of CMHC's Rental Construction Financing initiative and the financial support of Oxford County. Both saw the need for more affordable rental housing and supported this building's Net Zero energy efficiency. RCFi's long term financing facilitated the affordable rents offered by the Town of Tillsonburg Non-Profit Housing Corp." ? Stephen Culig, committee member, Town of Tillsonburg Non-Profit Housing Corp

Quick Facts

Associated Links

 

Logo: Canada Mortgage and Housing Corporation (CMHC) (CNW Group/Canada Mortgage and Housing Corporation)

SOURCE Canada Mortgage and Housing Corporation


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News published on 23 april 2019 at 11:15 and distributed by: