Governments of Canada and Ontario Celebrate New Affordable Housing in York Region

Richmond Hill, Ontario - The official opening of 25 new affordable housing rental units for seniors living on low income was held today in Richmond Hill. The project received $3 million in funding from the federal and provincial governments.

The Honourable Jim Flaherty, Minister of Finance, 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 Reza Moridi Member of Provincial Parliament for Richmond Hill, on behalf of Rick Bartolucci, Minister of Municipal Affairs and Housing, along with Bill Fisch, York Regional Chairman and CEO, made the announcement. 

Anand Bhavan Senior's Home, a 25-unit project located at 15 Garden Avenue in Richmond Hill received $3 million.  The federal and provincial funding is completed by $156,097 in municipal financial incentives.

The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends.  Canada's Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors.  Overall, the Economic Action Plan includes $2 billion for the construction of new and the renovation of existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.  Canada's Economic Action Plan builds on the Government of Canada's commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless.

Ontario has allocated a combined federal and provincial investment of $704 million for the renovation of social housing, and $540 million for the creation of new affordable housing.  This investment will create an estimated 23,000 jobs over the course of the program, and strengthen local economies across the province.  To date, Ontario has approved more than $510 million for construction-ready projects, which will provide affordable housing for low-income families, senior citizens, and persons with disabilities, and $402.02 million for repairs benefiting some 150,047 social housing units.  To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.

More information on this and other measures in Canada's Economic Action Plan can be found at www.actionplan.gc.ca.  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/housingactionplan.

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