Canadian Mortgage News

January 2006 National News Archive

Camelot and La Capanna Apartments Celebrate Official Opening

KITCHENER, Ontario, June 27, 2006 — The Government of Canada, the Government of Ontario, and the Region of Waterloo held a plaque dedication ceremony today to celebrate the official opening of Camelot and La Capanna Apartments in the Region of Waterloo, two projects which will create a total of 67 units of affordable housing under the Canada – Ontario Affordable Housing Program.

Cambridge MP Gary Goodyear, on behalf of the Honourable Diane Finley, Minister of Human Resources and Social Development; MPP for Kitchener Centre, John Milloy, on behalf of the Honourable John Gerretsen, Minister of Municipal Affairs and Housing; and Waterloo Regional Chair, Ken Seiling, attended the ceremony.

"These projects demonstrate the continued commitment of Canada's new Government to working innovatively and effectively with our partners to provide more affordable housing for the residents of Waterloo region," said Mr. Goodyear.

"The McGuinty government is on the side of Ontario's most vulnerable," said MPP Milloy. "That's why we are providing affordable housing for those in need. These projects will help low-income households achieve housing stability and live with dignity and independence."

The two projects, totaling approximately $8 million, include more than $1.35 million from the Canada – Ontario Affordable Housing Program, will provide:

• 25 units for seniors and single persons at 26 Fischer-Hallman Road in Waterloo, sponsored by Blaze Properties Inc. in partnership with Menno Homes Inc.;
• 42 units for families and single persons at 86 Elgin Street South in Cambridge, sponsored by La Capanna II Homes (Non-Profit) Inc.

"The Region of Waterloo has been a leader in Ontario in funding, promoting and facilitating affordable housing projects," said Regional Chair Ken Seiling. "With committed partners such as Blaze Properties Inc., MennoHomes Inc. and La Capanna II Homes (Non-Profit) Inc., we have been successful in developing almost 900 units of affordable housing in our community since 2001."

Today's federal and provincial allocation will be complemented by more than $1.5 million in municipal financial incentives.

In the Region of Waterloo, the Government of Canada through Canada Mortgage and Housing Corporation (CMHC), has allocated $13.51 million under the Canada – Ontario Affordable Housing Program Agreement.

The new federal-provincial agreement signed on 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.

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

News source: Canada Mortgage and Housing Corporation (CMHC)