LONDON, ON, Feb. 11, 2019 /CNW/ - Hard working residents of London deserve to have a safe and affordable place to call home where they can thrive and spend more time with their families.
Today in London, Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development (Housing and Urban Affairs), on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced the construction and funding of 54 new rental housing units to help more families have an affordable place to live.
Through CMHC's Rental Construction Financing initiative (RCFi), the federal government is investing $4.4 million for the construction of the 4-storey building. Of the 54 units, 50 will be rented at affordable rates while four will be rented at market rates.
Located at 770 Whetter Avenue in London, this project, developed by Homes Unlimited (London) Inc., will provide affordable housing options close to public transit, schools and services for modest and middle-income households.
The RCFi, a National Housing Strategy initiative delivered by CMHC, supports affordable rental housing construction projects to encourage a stable supply of affordable rental housing across the country for middle-class families struggling in expensive housing markets.
Quotes
"Through the National Housing Strategy, more middle class Canadians - and those working hard to join it - will find safe, accessible and affordable homes where their families can thrive and have the stability and opportunities they need to succeed. Our Government is committed to increasing the supply of rental units for Canadians through projects like the ones we are announcing today." – The Honourable Jean-Yves Duclos, Minister of Children, Families and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation
"These investments create good jobs and grow the local economy, helping families in the community that will soon move into these safe and affordable rental housing units. These projects are making a big difference in building a more sustainable future through more energy-efficient and affordable homes." – Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development (Housing and Urban Affairs)
"Our government is committed to continuing investments in housing so all Londoners can have a safe and affordable place to call home. Whether it be new units like those we are announcing today, or repairing existing housing units for London families, we are actively working with our housing partners to reduce waitlists and ensure all Londoners in need have homes that are sustainable, accessible and inclusive." – Kate Young, Member of Parliament for London West and Parliamentary Secretary to the Minister of Science and Sport and to the Minister of Public Services and Procurement and Accessibility (Accessibility)
"Homes unlimited is excited to be adding additional affordable housing units to our growing portfolio. As a charitable non-profit affordable housing developer and operator, we very much appreciate the support of the federal, provincial and municipal governments for this project. CMHC's Rental Construction Financing with lower interest rates and longer amortization has been especially beneficial in allowing us to provide more units at well below market rent." – Jim Foote, Treasurer of Homes Unlimited
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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]; Spencer Magee, Public Affairs, Canada Mortgage and Housing Corporation, 647-244-0040, [email protected]; Jim Foote, Treasurer, Homes Unlimited, 519-433-2741, [email protected]
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