LONDON, ON, Dec. 19, 2018 /CNW/ - Hard working middle-class families in London deserve to have a safe and affordable place to call home where they can thrive and spend more time with their children.
Today, Peter Fragiskatos, Member of Parliament for London North Centre, 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 69 new rental housing units in London to help middle-class families have an affordable place to live.
Through CMHC's Rental Construction Financing initiative (RCFi), the federal government is investing over $4.9 million for the construction of the 6-storey building that will provide safe and affordable homes to 69 families. All units will have rents at or lower than 30% of median household income in the area and 17% of the units will be accessible.
Located at 356 Dundas in downtown London, this project will provide affordable housing options close to public transit, schools and services for modest and middle-income households. As a result, they can enjoy better social outcomes and contribute to vibrant and socially inclusive neighbourhoods.
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.
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"Through the National Housing Strategy, more middle class Canadians - and those working hard to join it - will find safe, accessible and affordable homes in communities where their families can thrive and children learn and grow. Our Government is committed to increasing the supply of rental units for Canadians through projects like the one 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
"Our Government is investing in healthier energy efficient homes. This investment is wonderful news for the London middle-income families that will move into these new affordable rental housing units. It will contribute to build a foundation for their social and economic success as well as help create new jobs and stimulate our local economy." – Peter Fragiskatos, Member of Parliament for London North Centre
"I'm pleased this unique development will bring more much-needed rental housing to London in an area with easy access to public transit and downtown amenities. Rental Construction Financing helped make this project a reality." – Yossi Lavie, Developer, 356 Dundas St.
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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]; Wilbur McLean, Public Affairs, Canada Mortgage and Housing Corporation, 437-333-3299, [email protected]
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