CANADA SUPPORTS OVER 160 NEW HOMES FOR FAMILIES IN COQUITLAM

COQUITLAM, BC, March 7, 2022 /CNW/ - Everyone in Canada deserves a safe and affordable place to call home. The COVID-19 pandemic has made it clear that affordable housing is key to Canada's recovery, including in communities such as Coquitlam. 

Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, alongside Ron McKinnon, Member of Parliament for Coquitlam ? Port Coquitlam, Fin Donnelly, Member of the Legislative Assembly for Coquitlam-Burke Mountain, and Richard Stewart, Mayor of Coquitlam, announced a federal investment of $46.1 million to build Robert Nicklin Place, which will include 164 units of housing, primarily intended for low-income families.

The Province of British Columbia, through BC Housing, is providing nearly $8.1 million through their Building BC: Community Housing Fund to fund 74 of the building's units, as well as an ongoing annual operating subsidy of approximately $102,000. The City of Coquitlam is providing $3.3 million in capital funding while Metro Vancouver Housing Corporation, Translink, and School District 43 (Coquitlam) are all donating funds towards the construction of Robert Nicklin Place.

The new low-rise apartment building will be located at 3100 Ozada Avenue and will be operated by Affordable Housing Societies. The building will address the urgent need for housing for vulnerable renters in the community of Coquitlam. It is near community amenities such as the Millennium Line Lincoln Station, schools, a childcare centre, neighborhood parks, a public library, a hospital, and a community centre.

This investment by the Government of Canada was made possible by the National Housing Strategy's (NHS) National Housing Co-investment Fund (NHCF).

Quotes:

"Every Canadian deserves a safe and affordable place to call home. Through the National Housing Co-Investment Fund, our government is investing in affordable housing here in Coquitlam to help improve the quality of life for those who need it most. Thanks to today's announcement, more families in Coquitlam will now have access to affordable homes. This is the National Housing Strategy at work" ? The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"This investment from the Government of Canada's National Housing Co-investment Fund is improving the economic and social well-being of the families who will soon call Robert Nicklin Place their home and is making Coquitlam a better place to live. When people have a secure and stable home, they gain the confidence they need to succeed and fulfill their potential." ? Ron McKinnon, Member of Parliament for Coquitlam ? Port Coquitlam

"We know people in Coquitlam need more options for quality, affordable housing. Our government is proud to be working with the federal government, the City of Coquitlam and local partners to take another step forward in addressing the lack of affordable housing for people with low to moderate incomes and make a significant difference in the lives of people in the community." ? Fin Donnelly, Member of the Legislative Assembly for Coquitlam-Burke Mountain

"Coquitlam is so proud to have contributed $3.3 million to this project development through our Affordable Housing Reserve Fund (AHRF). The AHRF is a cornerstone of Coquitlam's Housing Affordability Strategy and integral to funding much-needed housing projects like this." ? Richard Stewart, Mayor, City of Coquitlam and Metro Vancouver Director

"As one of the largest affordable housing providers in the province, Metro Vancouver is pleased to have contributed to the development of these 164 new apartments in Coquitlam by waiving over $570,000 in liquid waste development cost charges. In 2020 and 2021, we waived approximately $5 million in fees to support the development of over 2,800 affordable rental units and we will continue to work to expand the region's supply of affordable housing through partnership and co-investment." ?Sav Dhaliwal, Chair of the Metro Vancouver Board of Directors

"The Affordable Housing Societies is very pleased to be furthering its mission to 'provide quality, affordable rental homes so that families and individuals can thrive' through the provision of 164 new rental homes in the new Robert Nicklin Place in Coquitlam. These new homes are part of our Society's goal to add 1400 new affordable rental homes to our portfolio by 2030. This incredible project has brought together partners from 3 levels of government, and when complete will deliver rental units that will be affordable for a broad range of income levels. We are grateful for the incredible support we have received from the City of Coquitlam, BC Housing, and CMHC, and we look forward to seeing individuals and families move into these new homes in late 2024." ? Stephen Bennett, CEO, Affordable Housing Societies

Quick facts:

• With a budget of $13.2 billion, the NHCF 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.
• Through the NHCF, the Government of Canada will work with partners to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes.
• Under the NHCF, investments are also planned to create or repair at least 4,000 shelter spaces for victims of family violence, as well as create at least 7,000 new affordable housing units for seniors and 2,400 new affordable housing units for people with developmental disabilities.
• To help Canadians find affordable housing, Budget 2021 provides an additional $2.5 billion over seven years in new funding and to reallocate $1.3 billion in previously announced funding to speed up the construction, repair, and support over 35,000 additional housing units.
• In Budget 2021, $750 million in existing funding under NHCF has been advanced to 2021-22 and 2022-23. This will accelerate the creation of 3,400 new units and the repair of 13,700 units. $250 million in existing funding will also be allocated to support the construction, repair, and operating costs of an estimated 560 units of transitional housing and shelter spaces for women and children fleeing violence. This funding will help the Government address gender-based violence.
• Canada's National Housing Strategy (NHS) is a 10-year, $72+ billion plan that will give more Canadians a place to call home.
• As of August 2021, the NHS has built over 68,700 new units of housing, repaired and renewed over 90,400 homes, and has reduced or eliminated housing need from 320,000 households.
• The Community Housing Fund is a provincial investment of $1.9 billion to build more than 14,000 affordable rental homes for low- and moderate-income families and individuals over 10 years.
• More than 8,900 of these homes are already open, under construction or in development in British Columbia.

Related links:

• 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.
• Additional information about Affordable Housing Societies is available at the following link : https://www.affordablehousingsocieties.ca/

SOURCE Canada Mortgage and Housing Corporation