Eight Affordable Housing Pilot Projects Approved in Waterloo Region

KITCHENER, Ontario, July 3, 2003 — The Government of Canada and the Government of Ontario today allocated more than $4.1 million to help fund eight pilot projects that will create 287 units of affordable housing for low-income people in the Region of Waterloo, announced the Honourable Steven Mahoney, Secretary of State responsible for Canada Mortgage and Housing Corporation and Ontario's Minister of Municipal Affairs and Housing David Young.

"This announcement is a positive step in moving to address a critical need in this part of the province", said Secretary of State Mahoney. "It represents a tangible demonstration of our commitment to invest in affordable housing for Canadians in need."

"This is the second allocation to Waterloo Region under the Affordable Housing Program, creating a total of 573 new units which will make a very positive and immediate impact on the lives of a great many needy people in the municipality", said Ontario's Minister of Municipal Affairs and Housing David Young.

"Waterloo Region has taken the lead in providing financial assistance to new rental housing starts and we are thrilled that senior levels of government are supporting these critical housing projects", said Ken Seiling, Regional Chair.

The pilot project component of the Canada-Ontario Affordable Housing Program Agreement is designed to kick-start the production of affordable rental housing in Ontario by providing funding for some 2,000 rental units in areas of the province with the highest need for affordable rental housing.

In Waterloo Region, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), has contributed $3.5 million through the Canada-Ontario Affordable Housing Program Agreement.

Today's $4.1 million allocation will be complemented by more than $2.7 million in Region of Waterloo capital funding plus other municipal financial incentives and $840,000 provided by non-profit organizations to help support the creation of this housing.

This is part of a five-year, $489 million commitment that will create 10,500 affordable housing units in Ontario. This partnership combines Government of Canada funding of $245 million with matching contributions of the Government of Ontario, municipalities and other private and non-profit partners.

For further information please contact:

For more information visit:

www.mah.gov.on.ca
www.cmhc.ca
www.waterlooregion.ca

The eight pilot projects in Waterloo Region

• 66 units at 44 Walnut Ave. in Kitchener. The project is sponsored by the private sector firm Walnut Apartments Inc. The units will be occupied by lower income singles and small families. Approximately one third of residents will pay rent geared to their income.
• 20 units, on 26 Ainslie St. in Cambridge. The project is sponsored by the non-profit organization Making Room Community Support for the Homeless. The units will be occupied by persons who have recently experienced homelessness. Approximately 75 per cent of residents will pay rent geared to their income.
• 16 units at 150 Highland Rd. W. in Kitchener. The project is sponsored by the private sector firm Old Firehall Lofts Inc. The units will be occupied by lower income singles and small families. Approximately 25 per cent of residents will pay rent geared to their income.
• 45 units at 86 Elgin St. S. in Cambridge. The project is sponsored by the non-profit organization of La Capanna Homes Inc. The units will be occupied by lower income singles and small families. Approximately one third of residents will pay rent geared to their income.
• 79 units at 593 Strasburg Rd. in Kitchener. The project is sponsored by the non-profit organization Bloomingdale Senior Residence Corporation. The units will be occupied by lower income people. Approximately half the residents will pay rent geared to their income.
• 22 units at 67-71 Charles St. E. in Kitchener. The project is sponsored by the non-profit organization House of Friendship of Kitchener. The units will be occupied by persons who have recently experienced homelessness. Approximately 75 per cent of residents will pay rent geared to their income.
• 16 units at 220 Village Rd. in Kitchener. The project is sponsored by the non-profit organization of MennoHomes Inc. The units will be occupied by lower income families. Approximately one third of residents will pay rent geared to their income.
• 23 units, at various locations in Kitchener. The project is sponsored by the private firm of Linwood Management Corporation. The units will be occupied by lower income singles and small families. Approximately 25 per cent of residents will pay rent geared to their income.