Canadian Mortgage News

January 2004 National News Archive

Affordable Housing Pilot Project Approved in the Region of Waterloo

WATERLOO, Ontario, November 5, 2004 — The Government of Canada and the Government of Ontario today allocated $675,000 to help fund a pilot project that will create 25 units of affordable housing in the Region of Waterloo.

The announcement was made by Kitchener-Waterloo MP Andrew Telegdi, on behalf of the Honourable Joseph Fontana, Minister of Labour and Housing, and MPP John Milloy, Kitchener Centre, as part of $8.7 million allocated today under the Canada/Ontario Affordable Housing Program.

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

"There is no question that Waterloo Region has taken the lead among all municipalities in the province in creating affordable housing, and in making a very beneficial impact on the lives of a great many needy people," said Mr. Malloy.

"The Region is pleased that senior levels of government continue to support Council's Affordable Housing Strategy," said Regional Chair Ken Seiling. "The development of these 25 new units in Waterloo is another example of our continued leadership in helping to create affordable community housing across Waterloo Region."

The $675,000 allocation to Waterloo Region will help to fund Camelot, a 25-unit project at 26 Fischer-Hallman Road North in Waterloo. The project is being developed by Blaze Properties Inc., a private sector company, in partnership with MennoHomes Inc., a non-profit organization.

Today's federal and provincial allocation will be complemented by more than $590,000 in Region of Waterloo financial incentives.

In the City of Waterloo, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), has contributed $625,000 through the Canada-Ontario Affordable Housing Program Agreement.

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

For further information please contact:

Peter Graham
Office of Minister Fontana
(613) 953-5646

Ross Parry
Office of Minister Caplan
(416) 325-1657

Rob Horne
Director of Housing
(519) 575-4521

For more information visit:

www.mah.gov.on.ca
www.region.waterloo.on.ca

News source: Canada Mortgage and Housing Corporation (CMHC)