Yahoo Finance CANADA AND ONTARIO BUILD OVER 30 AFFORDABLE HOMES IN MILTON
MILTON, ON , May 26, 2023 /CNW/ - Today, Adam van Koeverden, Member of Parliament for Milton, on behalf of the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, alongside the Honourable Steve Clark, Minister of Municipal Affairs and Housing for Ontario, and the Honourable Parm Gill, Member of Provincial Parliament for Milton, announced a combined investment of over $4.8 million which built 34 not-for-profit affordable homes in Milton.
Located at 70 Ontario Street and owned and operated by the Catherton Charitable Foundation, the building features 83 one and two-bedroom units – 34 of which are funded by Canada and Ontario. Residents of the building include individuals, families and seniors paying affordable rent, as well as fixed- and low-income residents receiving various levels of rent assistance and subsidies. The project supports intensification of Milton's Urban Growth Centre and has added a new, separate four-storey apartment building to the west portion of an existing residential property.
This investment is made through initiatives of the Canada-Ontario Bilateral Agreement under the National Housing Strategy and the funding includes:
$563,439 from the Ontario Priorities Housing Initiative (OPHI)
$435,043 from the Canada-Ontario Community Housing Initiative (COCHI)
$900,000 from the Canada-Ontario Investment in Affordable Housing (IAH) agreement
$2,923,036 from Social Infrastructure Fund (SIF)
Quotes:
"Every Canadian deserves a safe and affordable place to call home. Through the National Housing Strategy and our partnership with Ontario, we have built 34 affordable homes for low-income individuals and families in Milton, who now have a home that meets their needs. These investments will help us build stronger communities by making life more affordable for those most in need. This is one of the many ways the Government of Canada's National Housing Strategy is ensuring that no one is left behind." – The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion
"The Government of Canada is investing in affordable housing here in Milton and across Canada to ensure everyone has an affordable place to live, while improving the quality of life for those who need it most. Our focus is on meeting the needs of vulnerable groups, including seniors and women and their children, by providing them with safe, accessible and affordable housing options that meet their unique needs." – Adam van Koeverden, Member of Parliament for Milton
"These 34 new units will make a life-changing difference for the residents, and I am proud that they were made possible through a collaborative investment by the Ontario and federal governments. This project is a good example of our government's commitment to tackle homelessness and the housing supply crisis across Ontario – including through our historic levels of increased funding for homelessness prevention." – The Honourable Steve Clark, Minister of Municipal Affairs and Housing for Ontario
"Every dollar counts when it comes to building more homes that will make a real difference for families and seniors. By working together, we're able to provide Milton residents with more than housing- we're giving them the stability, foundation and support that empowers residents to truly thrive." – The Honourable Nina Tangri, Ontario's Associate Minister of Housing
"Our government is proud to invest in the creation of new affordable housing in Milton and across Ontario. These 34 new units are part of a larger development that will meet our growing community's housing needs, in line with our government's plan to increase housing supply so more people are able to find a home they can afford." – The Honourable Parm Gill, Member of Provincial Parliament for Milton
"This combined federal and provincial funding supports the Region's commitment to providing safe and accessible housing that meets the diverse needs of residents, as outlined in our Comprehensive Housing Strategy for 2014-2024. Thank you to Minister Clark and MP van Koeverden for this important investment in Milton through the Canada-Ontario Community Housing Initiative, Ontario Priorities Housing Initiative, Social Infrastructure Fund and the Investment in Affordable Housing Extension. This funding has been critical in supporting the creation of much needed affordable housing in our Region."
– Gary Carr, Halton Regional Chair
"The Town of Milton is committed to working with government partners to address the need for a variety of housing options. Today's announcement delivers on our belief that Milton can be a safe, welcoming and attractive home for all of our residents." – Gord Krantz, Mayor, Town of Milton
"The Maple Leaf Group's board of directors is thrilled to be adding much needed affordable housing to Halton Region and the City of Milton. The 70 Ontario Street project we are celebrating today, took over 10 years to be fully developed and occupied and the result speaks for itself." – Steve Robinson, President of Board of Directors, Catherton Charitable Foundation
Quick facts:
The Government of Canada's National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest over $82+ billion to give more Canadians a place to call home
The Canada-Ontario Community Housing Initiative (COCHI) provides funding to repair, regenerate and expand community housing so tenants can live in a home that is affordable. It can also be used to support community housing providers whose original program arrangements are expiring and help them to become more sustainable.
The Ontario Priorities Housing Initiative (OPHI) provides flexible funding to address local housing priorities and improve access to affordable housing options. It will help to increase affordable housing supply and improve the state of repair of affordable and social housing stock. It provides cost-matched funding to service managers and Indigenous program administrators.
The Social Infrastructure Fund (SIF) and Investment in Affordable Housing (IAH) Program are joint federal-provincial programs that funded the creation and repair of affordable housing. They also provided down payment assistance for homeownership and rental assistance to families and individuals in need.
The Ontario government invested over $1.2 billion in emergency funding under the Social Services Relief Fund (SSRF) to help municipal service managers and Indigenous program administrators respond to COVID-19, create longer-term housing solutions, and help vulnerable people, including those who are homeless or at-risk of homelessness.
Ontario is also investing an additional $202 million each year for the Homelessness Prevention Program and Indigenous Supportive Housing Program – bringing Ontario's total yearly investment to close to $700 million. This includes an increase of $4.4 million through the Homelessness Prevention Program for the Region of Halton, bringing the total to $14.3 million for 2023-24. These programs help those experiencing or at risk of homelessness and support the community organizations delivering supportive housing. Funding can also be used to build new supportive housing units.
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 needs, and offers unbiased housing research and advice to all levels of the 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
Check out the National Housing Strategy Housing Funding Initiatives Map to see affordable housing projects that have been developed across Canada.Ontario's most recent housing supply action plan – Helping Homebuyers, Protecting Tenants – is the latest in a series of steps taken by the province to help more people find a home they can afford. For more information on affordable housing in Ontario, visit ontario.ca/affordablehousing or follow us on Twitter.
SOURCE Canada Mortgage and Housing Corporation
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