Canadian Funding Corp. Reviews CMHC Statistics

Moishe Alexander blogs on CMHC affordable housing in Quebec – Laurent Lessard, Minister of Municipal Affairs, Regions and Land Occupancy, today visited the site of La Porte d’or des îles, a housing project that will provide 67 community housing units for semi-independent seniors, to which the governments of Canada and Quebec jointly contributed more than $4.2 million. The development of this initiative will result from a total investment of over $8.8 million.

In addition to the Government of Canada, through Canada’s Economic Action Plan, and the Government of Quebec, under the AccèsLogis Québec program of the Société d’habitation du Québec (SHQ), the City of Montréal provided more than $1.2 million in funding. This sum will be repaid by the Montréal Metropolitan Community (MMC) out of the social housing fund to which the 82 municipalities on its territory contribute, including the City of Montréal, which provides almost half of the funding.

“Our government is committed to giving a hand-up to the people of Quebec who need some help during these tough economic times,” said the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation. “Through projects like this one, Year 2 of Canada’s Economic Action Plan will continue to create jobs, stimulate communities in all corners of the country and support Canadian workers and families.”

“We attach a great deal of importance to improving the living conditions of the families and citizens of Quebec. This is even a priority for our government. Thanks to mobilizing projects like this one, our seniors will benefit from quality housing that meets their needs, at an affordable cost,” said Minister Lessard.

“The anticipated development of the 67 housing units of La Porte d’or des îles will provide semi­independent senior individuals and couples with comfortable homes and a social living environment conducive to maintaining their health. This new residential project will make a significant additional resource available to the seniors of Cartierville and the borough, as well as to those of Montréal’s black community, who are the developers of this project,” said Michael Applebaum.

“The aging population is growing in numbers, and it is important to build adapted housing to accommodate our seniors and keep them independent in a safe and pleasant environment,” said Pierre Gagnier, Mayor of the borough of Ahuntsic – Cartierville.

It should be noted that 34 of the 67 tenants of this housing project may benefit from the Quebec Rent Supplement program, which provides additional financial assistance to low-income individuals who would otherwise have to spend more than 25 per cent of their income on housing. The rent supplements provided will represent, over a five-year period, a total of $519,500 in additional financial assistance, including more than $467,500 from the SHQ and some $52,000 from the City of Montréal.

Moishe Alexander has been watching the CMHC pursuits regarding renovations and retrofits. The Governments of Canada and Newfoundland and Labrador today announced that $12.2 million in renovation and retrofit work on 822 Newfoundland Labrador Housing units, as well as co-op and non-profit housing properties on the Avalon and Burin Peninsulas, is making a significant difference to these homes.

Delighted by the funding which was made available through Canada’s Economic Action Plan, Moishe Alexander says that is a federal plan to stimulate the economy and create jobs during the global recession. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure. The federal and provincial governments are contributing equally to this overall investment of $58 million under the amended Canada – Newfoundland and Labrador Affordable Housing Program Agreement.

The Government of Canada wants to improve the quality of existing social housing for low-income seniors, single-parent families, recent immigrants and Aboriginal households. Canada’s Economic Action Plan provides $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing.

Avalon and Burin Peninsulas video put up by Moishe Alexander

The funding is being used for items such as the replacement of roofing, siding, windows and doors, and a complete retrofit of the interior, which can include the replacement of flooring, drywall, doors, kitchen and bathroom cupboards, flooring, counters and fixtures such as tubs, sinks and showers. The investment will significantly extend the life of these structures for future use.

As part of Budget 2010: The Right Investments — For Our Children and Our Future, the Provincial Government is investing $27 million for housing infrastructure projects, affordable housing and increased maintenance funding over the coming fiscal year. This renovation and retrofit work is in keeping with the goals of the Provincial Government’s Social Housing Plan for Newfoundland and Labrador — Secure Foundations, which outlines a new long-term vision for social housing aimed at improving the housing circumstances of lower-income households and helping to create healthier communities. A copy of the social housing plan is available at www.nlhc.nl.ca/SocialHsingPlan/report.pdf

The Honourable Fabian Manning, Senator for Newfoundland and Labrador, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) and the Honourable Tom Hedderson, Minister of Transportation and Works and Minister Responsible for Newfoundland Labrador Housing (Housing), made the announcement today.

“Through Year 2 of Canada’s Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most here in Newfoundland and Labrador,” said Senator Manning. “That’s why we are proud to have invested in the renovation and retrofit of these units, which will go a long way to providing safe, affordable homes for years to come.”

“Investing in our social housing infrastructure is a priority of the Williams Government and is part of our new long-term vision for social housing throughout the province,” said Minister Hedderson. “This renovation and retrofit work increases the longevity and energy efficiency of our existing housing portfolio and enables us to continue making more affordable social housing options available for Newfoundlanders and Labradorians as our government works towards its ultimate goal of eliminating poverty throughout the province.”

With a gradually strengthening job market and still favourable financing conditions, the housing market situation in the Sherbrooke census
metropolitan area (CMA) will be somewhat different this year1. After having stagnated in 2009, existing home sales registered through the Multiple Listing Service (MLS)® will rise by 4 per cent next year. Housing starts, for their part, will fall by 14 per cent in 2010. This decline will result from the level of housing activity in 2009, and not from the deterioration of economic conditions.

Employment to increase slightly in 2010 In 2009, the Sherbrooke area was spared by the slowdown in economic activity that affected all industrialized countries. During the first six months of the year, the average number of jobs2 in the area declined by 2 per cent, with losses registered in both part-time and full-time employment. However, the situation improved somewhat from July to September, as the number of jobs rose by 1.5 per cent. While this rise was entirely attributable to the gains recorded in part-time employment, full-time job losses are moderating more and more, suggesting that increases could occur shortly. Thanks to this renewed economic activity, the Sherbrooke CMA will end the year with 83,000 jobs, or the same level as in 2008.