Canada markets closed
  • S&P/TSX

    21,537.45
    +179.89 (+0.84%)
     
  • S&P 500

    4,662.85
    +3.82 (+0.08%)
     
  • DOW

    35,911.81
    -201.79 (-0.56%)
     
  • CAD/USD

    0.8007
    +0.0017 (+0.21%)
     
  • CRUDE OIL

    84.46
    +0.64 (+0.76%)
     
  • BTC-CAD

    52,817.79
    -1,098.79 (-2.04%)
     
  • CMC Crypto 200

    1,017.49
    -8.24 (-0.80%)
     
  • GOLD FUTURES

    1,821.50
    +5.00 (+0.28%)
     
  • RUSSELL 2000

    2,162.46
    +3.02 (+0.14%)
     
  • 10-Yr Bond

    1.7720
    +0.0610 (+3.57%)
     
  • NASDAQ futures

    15,585.50
    -10.25 (-0.07%)
     
  • VOLATILITY

    19.19
    -1.12 (-5.51%)
     
  • FTSE

    7,611.23
    +68.28 (+0.91%)
     
  • NIKKEI 225

    28,517.58
    +184.06 (+0.65%)
     
  • CAD/EUR

    0.7008
    +0.0007 (+0.10%)
     

Nearly 100 New Affordable Housing Units for Seniors in Winnipeg

·5 min read

WINNIPEG, MB, Aug. 10, 2021 /CNW/ - Every Canadian deserves a safe and affordable place to call home. The COVID-19 pandemic has made it clear that affordable housing is key to Canada's recovery, as people Winnipeg— and across the country are still having trouble finding safe and affordable housing.

Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with Kevin Lamoureux, Member of Parliament for Winnipeg North, announced a $25.8 million investment from the federal government to help build Misericordia Terrace, an assisted living centre that will include 97 rental housing units for seniors.

This investment by the Government of Canada was made possible by the National Housing Strategy's (NHS) National Housing Co-investment Fund (NHCF).

Currently under construction and located in the heart of Winnipeg at 691 Wolseley Avenue in the West Broadway neighbourhood, Misericordia Terrace will offer safe and convenient living adjacent to Misericordia Health Centre and close to neighbourhood shops, restaurants, public transit as well as parks and green spaces.

Quotes:

"Every Canadian deserves a safe and affordable place to call home. Through the National Housing Co-Investment Fund, our government is investing in affordable housing here in Winnipeg and across Canada to help create jobs and improve quality of life for those who need it most. Thanks to today's announcement, seniors in Winnipeg will soon have access to affordable homes. This is the National Housing Strategy in action." – The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC)

"Seniors have brought so many contributions to our society making sure that they have safe and affordable housing is one way to give back to them. This investment from the Government of Canada's National Housing Co-investment Fund will improve the quality of life for the seniors who will call Misericordia Terrace their home and will make our city a better place to live." – Kevin Lamoureux, Member of Parliament for Winnipeg North.

"Misericordia Health Centre has a rich history of adapting and changing to meet the needs of the communities we serve. Affordable assisted-living housing for older adults is very much needed in our neighbourhood and Misericordia is delighted to be able to offer independent, healthy living opportunities in the heart of Winnipeg. This non-profit project would not have been possible without the generous support of the Canada Mortgage and Housing Corporation, for which we are very grateful."Caroline DeKeyster, President and CEO, Misericordia Health Centre.

Quick facts:

  • 30 of the 97 units will be leased at affordable rates established at 77.5% of the area's Median Market Rent and the project will be required to maintain affordable rents for the 30 units for at least 20 years.

  • The building's common area will be barrier free and all units will be accessible.

  • Misericordia Terrace is designed to achieve a minimum of 29% decrease in energy intensity and 30% decrease in greenhouse gas emissions relative to the requirements of the 2015 National Energy Code for Buildings or the 2015 National Building Code.

  • With a budget of $13.2 billion, the NHCF gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous people, people with disabilities, those with mental health or addiction issues, veterans and young adults.

  • Through the NHCF, the Government of Canada will work with partners to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes.

  • Under the NHCF, investments are also planned to create or repair at least 4,000 shelter spaces for victims of family violence, as well as create at least 7,000 new affordable housing units for seniors and 2,400 new affordable housing units for people with developmental disabilities.

  • To help Canadians find affordable housing, Budget 2021 provides an additional $2.5 billion over seven years in new funding and to reallocate $1.3 billion in previously announced funding to speed up the construction, repair, and support over 35,000 additional housing units.

  • In Budget 2021, $750 million in existing funding under NHCF has been advanced to 2021-22 and 2022-23. This will accelerate the creation of 3,400 new units and the repair of 13,700 units. $250 million in existing funding will also be allocated to support the construction, repair, and operating costs of an estimated 560 units of transitional housing and shelter spaces for women and children fleeing violence. This funding will help the Government address gender-based violence.

  • Canada's National Housing Strategy (NHS) is a 10-year, $72+ billion plan that will give more Canadians a place to call home.

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 need, and offers unbiased housing research and advice to all levels of 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, please visit www.placetocallhome.ca.

SOURCE Canada Mortgage and Housing Corporation

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/August2021/10/c9449.html

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting