Real Estate — August 17, 2012Governments of Canada and Ontario Celebrate New Affordable Housing in Toronto
TORONTO, ONTARIO--(Marketwire - Aug. 17, 2012) - The official opening of 62 new affordable rental housing units for seniors and persons with disabilities was held today in Toronto. The project received more than $7.4 million in funding from the federal and provincial governments. The construction of the affordable housing units at Deauville Place has created up to 155 jobs in Ontario and helps to meet the housing needs of families and individuals in the Don Mills 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), and the Honourable Kathleen Wynne, Ontario Minister of Municipal Affairs and Housing and Member of Provincial Parliament for Don Valley West, along with City of Toronto Councillor John Parker, Ward 26 Don Valley West made the announcement.
"Today's event is great news for seniors in Toronto", said MP Carmichael. "New construction projects not only improve access to affordable housing and quality of life for its new residents but it also helps stimulate the economy."
"Having a safe and affordable home is the first step to building a better future for all communities across this province," said Minister Wynne. "Deauville Place is a wonderful asset to our community in Don Valley West and I look forward to many more visits to this facility as both an MPP and Minister."
"The construction of 62 new rental homes for seniors at Deauville Place by Mahogany Management has made a positive contribution to Toronto's economy, while revitalizing a longstanding vacant property in Flemingdon Park," said Councillor Parker. "For many years to come, this building will provide independent living for seniors through on-site programs and services, combined with senior-friendly, accessible features such as walk-in showers and amenities."
The 62-unit project located at 5 Deauville Lane in Toronto received more than $ 7.4 million in funding from Canada's Economic Action Plan and the Canada-Ontario Affordable Housing Program. The federal and provincial funding is complemented by $550,000 in municipal financial incentives from the City of Toronto.
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 (http://www.children.gov.on.ca/htdocs/English/breakingthecycle/index.aspx). Download a copy of the Government of Ontario's Long-Term Affordable Housing Strategy at http://www.mah.gov.on.ca/AssetFactory.aspx?did=8590. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.
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.
To find out more about the City of Toronto's affordable housing initiatives, visit www.toronto.ca/affordablehousing.
Disponible en français
For more information visit:
Canada Mortgage and Housing Corporation
Office of Minister Wynne
Office of Minister Finley
City of Toronto
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