Governments of Canada and Ontario Celebrate New Affordable Housing in Toronto

Government of Canada/Public Works — August 15, 2012

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2012) - The Government of Canada, the Government of Ontario, and the City of Toronto joined Options for Homes to celebrate the official opening of Heintzman Place, a 300-unit affordable-ownership homes project. The project is supported by more than $4.1 million in funding through the Canada-Ontario Affordable Housing Program. The construction of Heintzman Place has created up to 225 jobs in Ontario and helps to meet the housing needs of individuals and families in the Toronto area.

Lois Brown, Member of Parliament for Newmarket-Aurora and Parliamentary Secretary to the Minister of International Cooperation, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); Laura Albanese, Member of Provincial Parliament for York South-Weston, on behalf of the Honourable Kathleen Wynne, Ontario's Minister of Municipal Affairs and Housing and Minister of Aboriginal Affairs; along with City of Toronto Councillor Ana Bailão, Ward 18 Davenportand; and Mike Labbé, President and CEO of Options for Homes, made the announcement today.

"Our Government is investing in affordable housing here in Toronto to help create jobs and improve the quality of life for those who need it most", said PS Brown. "This initiative will help households living on low-income in our community access safe and affordable housing that meets their needs."

"Increasing safe and affordable housing is a key component of our government's plan to make life more affordable for Ontario families," said Laura Albanese, MPP York-South Weston. "Investments in home ownership projects like Options for Homes enrich the community, strengthen the economy and allow more people to live with dignity in their own home."

"I want to congratulate Options for Homes and Home Ownership Alternatives for making home ownership a reality for so many people," said Councillor Bailão. "By assisting people to buy, Options for Homes and Home Ownership Alternatives free up affordable rental homes for others."

The 300 units located at 60-61 Heintzman Street are part of Options for Homes' Heintzman Place development, which totals 643 suites in two towers. Heintzman Place received more than $4.1million through a joint investment under the Canada-Ontario Affordable Housing Program Agreement. The federal and provincial funding is complemented by $3.05 million in municipal financial incentives.

"This development proves that there's no limit to the amount of cost-effective homeownership we can produce and achieve a healthy blended community," said Mike Labbé, President and CEO, Options for Homes.

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 in Toronto, please 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.

For more information visit:

www.cmhc.ca

www.ontario.ca/housing

www.toronto.ca/affordablehousing

Contact Information

Media contacts:
Canada Mortgage and Housing Corporation
Dean D'Souza
416-250-2760
www.cmhc.ca

Kelly Baker
Office of Minister Wynne
416-585-6842

Marian Ngo
Office of Minister Finley
819-994-2482

Gil Hardy
City of Toronto
416-397-4701