Governments of Canada and Ontario Celebrate New Affordable Housing in Toronto

Government of Canada/Public Works — June 18, 2012

TORONTO, ONTARIO--(Marketwire - June 18, 2012) - Government of Canada, the Government of Ontario, and the City of Toronto joined the Toronto Christian Resource Centre to celebrate the official opening of 87 affordable housing rental units. The project is supported by more than $6 million in funding through the Canada-Ontario Affordable Housing Program. The construction of this project, known as 40 Oaks, has created up to 217 jobs in Ontario and helps to meet the housing needs of individuals and families in the Toronto area.

John Carmichael, Member of Parliament for Don Valley West on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); the Honourable Glen Murray, Minister of Training, Colleges and Universities and MPP for Toronto Centre, on behalf of the Honourable Kathleen Wynne, Ontario's Minister of Municipal Affairs and Housing, and Councillor Ana Bailão, Ward 18 Davenport, on behalf of Toronto City Council, made the announcement.

"New construction projects are a great way to stimulate our economy and put Ontarians to work," said MP Carmichael. "Today, we are celebrating the opening of the Christian Resource Centre, which will make a real, lasting difference in this community by improving access to affordable housing and offering a better quality of life for its new residents."

"We know that affordable housing plays an essential role in our communities by providing Ontario residents with a standard of living they all deserve," said Minister Murray. "It is a place for the residents to call home - a safe and affordable home in the heart of the city."

"I want to congratulate the staff and supporters of the Toronto Christian Resource Centre for their commitment and leadership which has led to the opening of this beautiful building," said Councillor Bailão. "By providing affordable homes to low-income people, the Resource Centre is contributing to making Regent Park a mixed-income community open to all."

The 87-unit project located at 40 Oak Street received more than $6 million through a joint investment under the Canada-Ontario Affordable Housing Program Agreement. The federal and provincial funding is complemented by $3 million in financial incentives from the City of Toronto, including waived development charges and property taxes.

40 Oaks provides affordable housing to low-income people, including those receiving Ontario Works or Ontario Disability Support payments. The new homes complement the innovative redevelopment of Regent Park that is now well underway.

"We're very proud that the Toronto Christian Resource Centre has been able to grow and expand as the new Regent Park evolves around us," said Greig Clark, Chair, Toronto Christian Resource Centre. "With this new building we now have a home from which to offer our programs, and we've been able to increase the affordable housing stock, as well as establish a new Community Hub where all members of the community are welcome."

The Government of Canada, through CMHC, will invest more than $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of almost 605,000 households living in existing social housing. In Ontario, this represents some 237,750 households. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2009, the provincial government has provided nearly $183 million to build new rental housing units for low-income seniors and persons with disabilities. Ontario's overall investment of over $2.5 billion has translated into the construction and repair of more than 270,000 housing units and the provision of 35,000 rent supplements for Ontario families on fixed incomes. The province's Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario.

Affordable housing is a key component of Ontario's Poverty Reduction Strategy. Download a copy of the Government of Ontario's Long-Term Affordable Housing Strategy. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing. For more information about affordable housing initiatives in the City of Toronto, visit www.toronto.ca/affordablehousing.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca.

Contact Information

Canada Mortgage and Housing Corporation
Jill Noble
416-250-2761

Office of Minister Wynne
Kelly Baker
416-585-6842

Office of Minister Finley
Marian Ngo
819-994-2482

City of Toronto
Gil Hardy
416-397-4701

www.cmhc.ca
www.ontario.ca/housing
www.toronto.ca/affordablehousing