Canadian Mortgage News

January 2005 National News Archive

$2.34 Million for Affordable Housing Allocated to Sault Ste. Marie

SAULT STE. MARIE, Ontario, September 2, 2005 — The Governments of Canada and Ontario have allocated $2.34 million to Sault Ste. Marie as a first wave of funding under the new $602 million Canada-Ontario Affordable Housing Program. This allocation will produce 100 new units of affordable housing, and provide rent subsidies for up to 40 lower-income households.

The announcement was made today by the Honourable Joe Fontana, Federal Minister of Labour and Housing.

"The strength of our communities rests on housing. The Government of Canada is working on many fronts to address the housing needs of all Canadians," said Minister Fontana. "Today is about celebrating the partnerships that make these affordable housing projects a reality for the residents of Sault Ste. Marie."

Housing allowances/rent supplements will enable municipalities to respond immediately to requests for affordable housing in their communities by working with both private and non-profit landlords to take advantage of the current high vacancy rate in the rental market.

A second wave of funding will follow that will allocate the balance of funds for affordable housing in Ontario.

For further information, please contact:

Peter Graham
Director of Communications
Office of Minister Fontana
(819) 953-5646

For more information visit:
www.mah.gov.on.ca

News source: Canada Mortgage and Housing Corporation (CMHC)