Government of Canada makes significant investment in affordable housing in Calgary

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

Logo: Canada Mortgage and Housing Corporation (CMHC) (CNW Group/Canada Mortgage and Housing Corporation)

CALGARY, Aug. 7, 2019 /CNW/ - Every Canadian deserves a safe and affordable place to call home. Hard-working middle-class familes and those working hard to join the middle will soon have more options, as new investments made by the federal, provincial and municipal governments will lead to the construction of 12 affordable housing projects throughout the city.

The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), today announced a $28.4 million financial commitment from the federal government for construction of up to 665 new units.

With the help of the National Housing Co-Investment Fund (NHCF), the developments will be built throughout Calgary on city-owned land, and located in areas close to public transit and support services. Of the 665 units,140 units will be fully accessible for persons with physical disabilities. A total of 372 homes will be earmarked at affordable rents lower than 30% of Calgary's median household income. The new homes will support Calgarians of all ages, family compositions, and demographics. Providing safe and stable housing affords greater opportunities for residents to find and keep jobs, learn and build skills, and be active participants in their communities. 

Quotes:

"Every Canadian deserves a safe and affordable place to call home. This investment into affordable housing in the city of Calgary will facilitate real change for the affordable housing landscape of Calgary. With these 12 new affordable housing projects, resulting in up to 665 new units throughout the city, Calgarians seeking safe, affordable housing will be able to remain in the communities they call home.
– The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC)

"Investing in affordable housing is vital to helping more low-income Albertans get on the path to financial stability. We are proud to partner across all levels of government to ensure affordable housing is available for the Albertans who need it."
– The Honourable Josephine Pon, Minister of Seniors and Housing for the Government of Alberta

"Building new affordable housing is about giving people the stability they need to succeed, but it's also about finding ways to accomplish a lot in a cost-effective way. By working together with all levels of government to fund development, we are able to deliver new homes that are good for Calgarians, for Canadians and for our collective bottom line"
– Peter Demong, Deputy Mayor of the City of Calgary

Quick facts:

• The City of Calgary is allocating land and in-kind contributions toward this initiative.
• The City of Calgary currently has a wait list of over 4,000 for affordable housing units. This initiative will represent a major step forward for the City of Calgary in alleviating this demand.
• The 12 buildings will achieve energy efficiency savings and a reduction in greenhouse gas emissions of 26% compared to the 2015 National Energy Code of Canada for Buildings.
• With a budget of $13.2 billion, NHCF gives priority to projects that help those in greatest need, including women and children fleeing family violence, seniors, Indigenous Peoples, people with disabilities, those dealing with mental health and addictions, Veterans and young adults.
• Through the NHCF, the Government of Canada will work with partners to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes over the next 10 years.
• Investments are also planned in the NHCF to create or repair at least 4,000 shelter spaces for victims of family violence and create at least 7,000 new affordable housing units for seniors and 2,400 new affordable housing units for people with developmental disabilities.
• Under the Investing in Canada plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada's rural and northern communities.

Associated 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, visit www.placetocallhome.ca.

SOURCE Canada Mortgage and Housing Corporation

Valérie Glazer, Press secretary, Office of the Minister of Families, Children and Social Development, 613-220-1841, [email protected]; Leonard Catling, Media Relations, Canada Mortgage and Housing Corporation, [email protected], 604-787-1787

Related Links

www.cmhc-schl.gc.ca