Canadian Mortgage News

January 2006 National News Archive

Construction Begins on Three Affordable Housing Projects in Peterborough

PETERBOROUGH, Ontario, May 24, 2006 — The Government of Canada, the Government of Ontario, and the City of Peterborough celebrated the start of renovations on three projects that will create 93 units of affordable housing in Peterborough with over $2 million in funding from the Canada — Ontario Affordable Housing Program.

Dean Del Mastro, Member of Parliament for Peterborough, on behalf of the Honourable Diane Finley, Minister of Human Resources and Social Development, Jeff Leal, MPP for Peterborough, on behalf of Ontario Minister of Municipal Affairs and Housing John Gerretsen; and Mayor of Peterborough, Sylvia Sutherland attended the ceremonies.

"The Government of Canada is committed to working with our partners on many fronts to address the housing needs of Canadians" said MP Del Mastro. "Projects such as these three celebrated today will help ensure that residents of Peterborough with lower incomes can access affordable housing in their own community."

"The McGuinty government is on the side of Ontario's most vulnerable," said Leal. "That's why we are working with our private and non-profit partners to provide more affordable housing to those who need it most. These projects in the City of Peterborough are an excellent example of what we can achieve when all levels of government work together."

The $2.09 million commitment to Peterborough includes:

• $460,000 for a $1 million, 23-unit project at 716 Maryland Avenue. Sponsored by Maryland Place Inc., the units will be occupied by seniors and single people with lower incomes.
  
• $1,050,000 for a $2.6 million project at 90 Murray Street. Sponsored by the Moloney Project Development Corporation, the conversion of the Central School will provide 50 apartments for seniors, families and single people with lower incomes.
  
• $580,000 for a $1.1 million project at 136 Anson Street. Sponsored by Peterborough Housing Corporation, the conversion of Anson House will provide 20 apartments for singles with lower incomes.

"Anson House, Central School and Maryland Place are exciting and adaptive re-use projects in the City of Peterborough," said Mayor Sutherland. "A former retirement home, a historic school and an old convent will be given new life and transformed into new affordable housing units. These innovative affordable housing project are revitalizing our neighbourhoods and contributing to a healthy community."

Today's federal and provincial allocation will be complemented by more than $976,000 in municipal financial incentives.

The federal-provincial agreement, signed April 29, 2005, comprises a commitment of $301 million from each of the two levels of government. With this commitment, the federal, provincial and municipal governments will invest at least $734 million in affordable housing over the life of the Canada — Ontario Affordable Housing Program. In total, the program will help 20,000 Ontario households by 2010.

For further information please contact:

Kathie Howes
Canada Mortgage and Housing Corporation
647-225-3730

Patti Munce
Office of Minister Gerretsen
416-585-6333

Lesley Thompson
City of Peterborough
705-742-7777 Ext.1492

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

News source: Canada Mortgage and Housing Corporation (CMHC)