CANADA AND BC SUPPORT 85 NEW RENTAL HOMES IN SURREY

Government of Canada Logo (CNW Group/Canada Mortgage and Housing Corporation)

British Columbia Logo (CNW Group/Canada Mortgage and Housing Corporation)

Metro Vancouver Logo (CNW Group/Canada Mortgage and Housing Corporation)

SURREY, BC, July 7, 2022 /CNW/ - Individuals, families and people living with disabilities in Surrey will soon have access to 85 new rental homes, with construction underway on the redevelopment of Kingston Gardens.

Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, Ken Hardie, Member of Parliament for Fleetwood–Port Kells, Jagrup Brar, Member of the Legislative Assembly for Surrey–Fleetwood, and Sav Dhaliwal, Chair of the Metro Vancouver Board of Directors, announced close to $50 million in investments towards this project.

The Government of Canada is contributing $29.4 million through the National Housing Co-Investment Fund (NHCF), while the province, through BC Housing, is providing $8.3 million for the project. Metro Vancouver Housing Corporation is also providing approximately $12 million in equity.

The four-storey building is located at 15245 99 Avenue in Surrey and will be operated by Metro Vancouver Housing Corporation. The building will feature a mix of one-, two-, three- and four-bedroom units for people with low to moderate-incomes, including nine accessible units and amenity space for residents. The site is located across from Guildford Town Centre and is close to supermarkets, schools and community amenities.

This is phase 1 of a larger redevelopment at the site. The 85-unit building will replace 24 aging townhouse units that were built in 1981. The townhouse units have already been demolished and residents were relocated. Previous tenants will have the opportunity to move into the new homes once construction is completed. Construction is expected to be complete in spring 2023.

Quotes:

"Every Canadian deserves a safe and affordable place to call home. Through the National Housing Co-Investment Fund our government is investing in housing across Canada, including in Surrey. This housing project will add 85 affordable homes to the community, benefitting individuals, families and people with disabilities. This is the National Housing Strategy at work." – The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"This investment from the Government of Canada's National Housing Co-Investment Fund is improving the economic and social well-being of the individuals, families, and people with disabilities who will soon call Kingston Gardens their home and is making Surrey a better place to live. When people have a secure and stable home, they gain the confidence they need to succeed and fulfill their potential."  – Ken Hardie, Member of Parliament for Fleetwood – Port Kells

"These new 85 homes will ensure that more people in Surrey don't have to look elsewhere to find a quality home they can afford. Together with partners like Metro Vancouver Housing Corporation, we are building the homes that people need in Surrey and throughout the province." – Jagrup Brar, MLA for Surrey-Fleetwood

"Metro Vancouver Housing provides high-quality housing for low- and moderate-income households, and plays an essential role in building a more resilient, equitable, and inclusive region. This redevelopment at Kingston Gardens is one of many projects Metro Vancouver has planned in the coming years to make our communities more livable." – Sav Dhaliwal, Chair of the Metro Vancouver Board of Directors 

Quick facts:

• The B.C. government is making the largest investment in housing in B.C.'s history -- $7-billion over 10 years. Since 2017, the Province has funded nearly 34,000 affordable new homes that have been completed or are underway for people in British Columbia, including more than 1,900 homes in Surrey.
• The National Housing Co-Investment Fund (NHCF) is a program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous peoples, people with disabilities, those with mental health or addiction issues, veterans, and young adults.
• With a budget of $13.2 billion, the NHCF plans to:

• Create up to 60,000 new homes
• Repair up to 240,000 homes
• Create or repair at least 4,000 shelter spaces for victims of family violence
• Create at least 7,000 new homes for seniors
• Create at least 2,400 new homes for people with developmental disabilities
• Budget 2022 proposes to advance $2.9 billion in funding under the NHCF to accelerate the creation of up to 4,300 new units and the repair of up to 17,800 units.
• The Government of Canada's National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest over $72 billion to give more Canadians a place to call home.

Related links:

• As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aim is that by 2030, everyone in Canada has a home they can afford and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.
• A map showing the location of all announced provincially-funded housing projects in B.C. is available online: https://www.bchousing.org/homes-for-BC.
• To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/.

SOURCE Canada Mortgage and Housing Corporation

Information on this news release: Arevig Afarian, Office of the Minister of Housing and Diversity and Inclusion, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]; Media Relations, Office of the Attorney General and Ministry Responsible for Housing (BC), 236 478-0251; Media Relations, BC Housing, [email protected]; Don Bradley, Metro Vancouver, Division Manager, Media Relations & Issues Management, 604 788-2821, [email protected]