The official opening of two new affordable rental housing projects for seniors, persons with disabilities and low-income families and individuals was held today in Peterborough. Combined, these projects received more than $3.6 million in funding from the federal and provincial governments. The construction of these projects created up to 85 jobs in Peterborough.
Dean Del Mastro, Member of Parliament for Peterborough, 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 Jeff Leal, Member of Provincial Parliament for Peterborough, on behalf of the Honourable Bob Chiarelli, Ontario's Minister of Municipal Affairs and Housing; along with Daryl Bennett, Mayor of Peterborough, made the announcement.
"Through Canada's Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most here in Peterborough and throughout the country," said MP Del Mastro. "That's why we have invested in this project which will deliver safe and affordable housing that meets the needs of seniors and individuals."
"Today's official opening of both these wonderful buildings is a significant step to meeting the housing needs of persons with disabilities, seniors and lower income families in Peterborough," said MPP Leal. "It's the latest example of how our Long-Term Affordable Housing Strategy is working to make affordable housing more accessible for people across Ontario."
"We are very pleased with this announcement," said Peterborough Mayor Daryl Bennett. "It represents an ongoing recognition of the pressing need for continued senior government support for affordable housing in our City."
Peterborough Housing Corporation's Bradburn House, located at 293 London Street in Peterborough received $2.16 million in joint funding from the Canada-Ontario Affordable Housing Program and from Canada's Economic Action Plan - Housing for Low-Income Seniors. It will provide 18 units for low-income individuals. The federal and provincial funding is complemented by $107,388 in municipal financial incentives and contributions from the City of Peterborough.
TVM Terraces, located at 207-209 Murray Street in Peterborough received $1.44 million in joint funding through Canada's Economic Action Plan - Housing for Persons with Disabilities and the Canada-Ontario Affordable Housing Program. It will provide 16 units for persons with disabilities. The project funding includes nearly $80,000 for solar panels under the Ontario's Renewable Energy Initiative Program. The federal and provincial funding is complemented by $75,000 in municipal financial incentives from the City of Peterborough.
The Government of Canada, through CMHC, will invest approximately $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 almost 238,000 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 more than $191 million to build new rental housing units for low-income seniors and persons with disabilities. Since 2003, Ontario's funding commitment of nearly $3 billion is the largest affordable housing program in the province's history. Ontario is supporting the creation of over 17,000 affordable rental housing units; making more than 263,000 repairs and improvements to social and affordable housing units; and providing rental down payment assistance to over 81,000 households in need. 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.