New Homes For Seniors In Southeast Edmonton

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

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

EDMONTON, Feb. 27, 2019 /CNW/ - Over 100 seniors have a new affordable home in Sakaw Terrace. Through the Investment in Affordable Housing Agreement, the governments of Canada and Alberta are providing $20 million in funding for this affordable senior housing project in southeast Edmonton.

Sakaw Terrace offers 158 housing units, of which, 70 are lodge units, while 88 are affordable seniors apartments. Sixty of the 88 apartments will be offered at 15 per cent below market rent and 49 of the lodge units will be available to low- and moderate-income seniors.

The Honourable Amarjeet Sohi, Minister of Natural Resources, on behalf of Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Christina Gray, Minister of Alberta Labour, on behalf of Lori Sigurdson, Minister of Alberta Seniors and Housing, made the announcement today.

Quotes:

"The opening of Sakaw Terrace brings more affordable housing to Southeast Edmonton, allowing independent seniors to remain close to family and friends, while participating in the livelihood of their communities. Our Government remains committed to assisting and investing in our seniors in Alberta and throughout the country."
— The Honourable Amarjeet Sohi, Minister of Natural Resources

"By ensuring more seniors with low income have access to affordable housing we're helping seniors to remain in their communities close to family and friends. Our government is proud to support seniors and their families in this fast-growing area of our capital city."
— The Honourable Lori Sigurdson, Minister of Alberta Seniors and Housing

"Opening Sakaw Terrace in Mill Woods culminates a 13-year journey to offer seniors a friendly, secure and affordable home. Thoughtful investments by all three levels of government and caring Edmontonians demonstrates our collective commitment to seniors in our community."
— Karen Lynch, chair, Greater Edmonton Foundation

Quick facts:

• The City of Edmonton provided $4.2 million plus donated the land, which is valued at $2.4 million.
• The Greater Edmonton Foundation owns the land as well as the new Sakaw Terrace building, and will provide $100,000 in land value and finance the remaining $16 million balance.
• The Government of Canada is currently rolling out its National Housing Strategy (NHS)—an ambitious 10-year, $40 billion plan that will create 100,000 new housing units and lift 530,000 families out of housing need as well as repair and renew more than 300,000 housing units and reduce chronic homelessness by 50 percent.
• The NHS is built on strong partnerships between federal, provincial and territorial governments, and on continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private sectors to make a meaningful difference in the lives of Canadians.
• In 2017, the Government of Alberta launched its first Provincial Affordable Housing Strategy, including a $1.2-billion commitment to build affordable housing across the province.

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. 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.

The Government of Alberta ministry of Seniors and Housing fosters the development of affordable housing and supports access to housing options for Albertans most in need. The ministry works with seniors, Albertans who require housing supports, their families and caregivers, communities and other government partners. A more detailed description of the ministry and its programs and initiatives can be found at www.seniors-housing.gov.ab.ca.

Learn more about the Provincial Affordable Housing Strategy.

 

SOURCE Canada Mortgage and Housing Corporation

Valérie Glazer, Press Secretary, Office of the Minister of Families, Children and Social Development, 819-654-5546, [email protected]; Alexandre TremblayPublic Affairs, Canada Mortgage and Housing Corporation, 613-748-2559, [email protected]; Media Inquires, Government of Alberta, [email protected], 780-422-4905

Related Links

www.cmhc-schl.gc.ca