Yahoo Finance Federal government supports affordable homes in Okotoks
OKOTOKS, AB, June 21, 2024 /CNW/ - The federal government provided over $1.3 million for 10 new affordable homes in Okotoks. The investment for this project was made through the government's Affordable Housing Fund (AHF), along with a combined investment with the provincial government of over $200,000 through the Affordable Housing Partnership Program (AHPP).
The announcement took place yesterday at Drake Towns Affordable Housing Complex in Okotoks. The development, which is now fully occupied, is a 10-unit townhome consisting of two to three-bedroom apartments with priority given to providing homes for women fleeing violence.
Funding for this project is as follows:
$1.36 million from the federal government through the Affordable Housing Fund (AHF)
$227,000 of federal and provincial funding through the Canada-Alberta Bilateral Agreement under the National Housing Strategy (NHS)
$150,000 from the Town of Okotoks
$368,000 from Coal Trail Residence
$1.08 million from Westwinds Communities
Quotes:
"The federal government recognizes the importance of providing more homes for our most vulnerable Canadians. We are committed to working with our provincial partners and organizations like Westwinds to ensure that people in every province and region have access to safe, affordable homes. Today's good news in Okotoks is one example of our National Housing Strategy continuing to work, and I am pleased to see developments like Drake Towns fully occupied with residents of the community who need housing the most." – George Chahal, Member of Parliament for Calgary Skyview on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
"Alberta's government is proud to have supported this project through the Affordable Housing Partnership Program. Drake Towns is an example of what we can achieve when all levels of government work with community partners to build the homes our province needs. We can get more homes like these ones built faster, so that vulnerable and low income Albertans have a safe and affordable home available to them." – Jason Nixon - Minister of Seniors, Community, and Social Services
"Establishing partnerships is crucial to advancing affordable housing projects. We are very grateful for Westwinds Communities, Canada Mortgage and Housing Corporation and the Province of Alberta for investing in our community and to Partners Development Group for supporting this project. Drake Towns exemplifies the success of public-private collaboration." – Mayor Tanya Thorn, Town of Okotoks
"The Drake Towns project demonstrates the steadfast determination of the Town of Okotoks to develop affordable housing partnerships and the strong support of the Ministry of Seniors, Community and Social Services, and CMHC to ensure much needed viable local affordable housing options." – Don Herring, Chairperson, Westwinds Communities
"I want to extend my heartfelt thanks to everyone who attended yesterday's grand opening, and for the Westwinds team who made the event a resounding success. Reflecting on the discussions, speeches, and feedback from yesterday's event, I'm reminded that Drake Towns is more than just a housing complex. It's a representation of our community's collective effort to address housing challenges and create a supportive environment for our tenants." – Lauren Ingalls, CAO, Westwinds Communities.
Quick facts:
The Affordable Housing Fund (AHF) is part of Canada's National Housing Strategy (NHS). The NHS is an $82+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.
As of March 2024, the federal government has committed $50.97 billion to support the creation of over 146,000 units and the repair of over 286,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
The Affordable Housing Partnership Program (AHPP) is part of Alberta's Stronger Foundations affordable housing strategy to support an additional 25,000 households by 2031 — an increase of more than 40 per cent.
In December 2022, Alberta's government launched the Affordable Housing Partnership Program to build and renovate more affordable housing units across the province. This program partners with local organizations, governments, and housing providers to build housing that meets the needs of the community it will serve.
AHPP is cost-matched through the Canada – Alberta Bilateral Agreement under the National Housing Strategy.
The first round of funding for the Affordable Housing Partnership Program closed January 11, 2023. The program will open again to applications this spring.
The Canada – Alberta bilateral Agreement is a 10-year agreement between the Government of Canada and the Government of Alberta. Signed on March 8, 2019, the agreement will invest $678 million — $339 million from the Government of Canada and $339 million from the Government of Alberta — to protect, renew and expand social and community housing in Alberta.
Additional Information:
Visit Canada.ca/housing for the most requested Government of Canada housing information.
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 everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.
For more information about Drake Towns and our ongoing projects, please contact:
Lauren Ingalls, CAO, Westwinds Communities at lauren.ingalls@westwindscommunities.ca
SOURCE Canada Mortgage and Housing Corporation (CMHC)
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/21/c1298.html
