Canadian Mortgage News

January 2007 National News Archive

Groundbreaking for a New Housing Project in Montréal

MONTREAL, Quebec, April 13, 2007 — Semi-independent seniors will now have more affordable housing options thanks to the construction of 29 new housing units.

This announcement was made today by the Honourable Michael M. Fortier, Minister of Public Works and Government Services and Minister responsible for Montréal, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development, and by Ved Vohra, coordinator for the Bharat Bhavan Senior Hostels.

“Canada’s new Government is proud to provide support for the creation of affordable housing in Montréal,” said Minister Fortier. “We are committed to providing housing solutions for seniors, so that they can continue to live in their communities with dignity and independence.”

The project received close to $10,000 under the Seed Funding program offered by the Canadian Centre for Public-Private Partnerships in Housing of Canada Mortgage and Housing Corporation. This program offers financial assistance to potential housing providers who are in the early stages of developing an affordable housing proposal. The Bharat Bhavan Senior Hostels project also benefited from a $100,000 loan under the Proposal Development Funding (PDF) program. A PDF loan enables housing proponents to carry out the activities required to bring their proposal to the point where they can apply for mortgage financing. A total investment of more than $2,736,000 was required to develop this project.

Canada Mortgage and Housing Corporation (CMHC) has been Canada’s national housing agency for over 60 years. CMHC contributes to improving the living conditions and the well-being of Canadians through four areas of housing activities – housing finance, assisted housing, research and information transfer, and export promotion.

CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, and making vibrant and sustainable communities and cities a reality across the country. For more information call 1-800-668-2642.

Media inquiries:

Sophie Crête
Advisor, Communications and Marketing
Canada Mortgage and Housing Corporation
514-496-4025

News source: Canada Mortgage and Housing Corporation (CMHC)