CANADA BUILDS 50 AFFORDABLE HOMES FOR SENIORS IN O'LEARY

O'LEARY, PE, May 26, 2023 /CNW/ - Today, Bobby Morrissey, on behalf of the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, along with the Honourable Ernie Hudson, Minister of Transportation and Infrastructure and MLA for Alberton?Bloomfield, and Darren MacKinnon, Deputy Mayor of the Town of O'Leary, announced that 50-units of much needed affordable housing for Seniors is coming to O'Leary.

Located at 13 Royal Avenue, The Willows Community Care Residence is an affordable 50?unit community care home. The residence will give area seniors the opportunity to meet their identified goal of aging in place within a functional and safe residence. The Willows will provide supportive care while fostering continued interaction and engagement with nearby family, friends, and the community at large.

The Government of Canada is investing nearly $9.6 million through the National Housing Co-investment Fund (NHCF), a key pillar of the Government of Canada's National Strategy, which is a program delivered by Canada Mortgage and Housing Corporation (CMHC). The Government of P.E.I.  provided approximately $200,000. The Town of O'Leary is providing $275,000 to build the residence.

The building project is being led by the Community Seniors Co-operative Ltd., a, non-profit cooperative which operates out of concern for the economic, social, and environmental well-being of the community at large.

Construction of the project began in September 2022 and is expected to be complete in January 2024.

"Everyone deserves a safe and affordable place to call home. Thanks to the National Housing Co-investment Fund, more than 50 seniors in O'Leary will have access to a safe and comfortable home. By working closely with our partners to create more affordable housing, the Government of Canada continues to achieve meaningful results for Canadians. This is just one of the many ways our investments in housing across the country continue to ensure that no one is left behind." ? The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"Investing in affordable housing is about investing in the well-being of the people of our communities. It's also about allowing even more people, like seniors of O'Leary, to have a home adapted to their needs so they can remain in their home community, knowing they are living in safe housing where family and friends can continue to be part of their lives. Our government continues to deliver for Islanders through investments that will make a real difference in their daily lives." ? Bobby Morrissey, Member of Parliament for Egmont

"Community care is an important piece of our care continuum and its so important that Islanders have the option to remain in their own community when they need this level of support. The Province of Prince Edward Island will continue to make investments in projects that are important to Islanders." ? The Honourable Ernie Hudson, Minister of Transportation and Infrastructure on behalf of the Honourable Rob Lantz, Minister of Housing, Land and Communities

"The Willows, affordable seniors housing project is a strong example of co-operation amongst various levels of government to realize a modern, respectful housing solution. Investing in assets that will support a continued occupancy of our residents and neighbours  to live close to family and friends is a key component in the social fabric our area. The Town of O'Leary is pleased to support this project through our Community Development Fund, and recognizes the determination and pride of the development committee in seeing this wonderful asset be a part of our town." ? Darren MacKinnon, Deputy Mayor of O'Leary

"Our Board is thrilled that this day has finally arrived.  Without CMHC's belief in our project and the investments that they have committed to it, we would not be where we are today.  Now our seniors will not have to leave their community when they need more care than can be provided at home." ? Sally Lockhart, Chair, Community Seniors Cooperative

• The National Housing Co-Investment Fund (NHCF) is a 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 proposes to advance $2.9 billion in funding under the NHCF to accelerate the creation of up to 4,300 new units and repair up to 17,800 units.
• The Government of Canada's National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest over $82 plus billion to give more Canadians a place to call home.
• The NHCF funding for this project is a combination of a low-cost loan worth $6.7 million and a forgivable loan worth $2.9 million

• 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 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, visit: www.placetocallhome.ca
• Check out the National Housing Strategy Housing Funding Initiatives Map to see affordable housing projects that have been developed across Canada.

SOURCE Government of Canada