Comments Off

Canada, B.C. Announce New Seniors’ Housing Construction

The governments of Canada and British Columbia, announced today $15.5 million for the construction of 322 modular housing units for seniors and persons with disabilities to be constructed by four B.C. modular housing manufacturers.

“The Harper Government is helping Canadian seniors and persons with disabilities during these tough economic times through Canada’s Economic Action Plan. Our government’s investment of $7.75 million will stimulate the economy and create jobs during the global recession,” said Cathy McLeod, Member of Parliament for Kamloops – Thompson – Caribou, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). “Here in B.C., this achievement gives hope to seniors and people with disabilities who need quality affordable housing that meets their needs, while creating local jobs.”

“While the primary focus of the Seniors’ Rental Housing initiative is to provide affordable housing in rural and remote communities, we’re also creating employment and stimulating local economies by awarding the modular housing contracts to local modular manufacturers,” said Rich Coleman, Minister of Housing and Social Development. “These modular housing units will use close to 100 per cent B.C. wood sourced from Pine Beetle infected forests. This supports the new Wood First Act, which aims to increase demand for wood products by requiring provincially-funded building projects to use wood as the primary construction material.”

Through an amendment to the Canada – British Columbia Affordable Housing Agreement, the federal and provincial governments are contributing a combined total of $15.5 million for the construction of the 322 modular housing units. As part of the Seniors’ Rental Housing (SRH) initiative, these modular units will be shipped to selected rural communities across the Province to provide affordable housing for independent seniors and persons with disabilities.

The successful proponents, selected by BC Housing through a Request for Proposal (RFP) issued in August 2009, were Britco Structures Inc., Chaparral Industries, Freeport Industries Ltd. and Northern Trailer, a division of Horizon North. These companies will construct single-storey modular units which will be designed to incorporate energy efficient features and built using B.C. forest products.

“Modular construction integrates building processes by enabling greater control, higher quality, shorter timelines and lower, more predictable costs” said Mark Brown, president of Northern Trailer. “We are looking forward to working with the federal and provincial governments to customize the designs of the modular units to provide the most appropriate homes for seniors and persons with disabilities.”

The SRH initiative is a result of a $365-million joint investment under an amendment to the Canada – British Columbia Affordable Housing Agreement, which includes funding through Canada’s Economic Action Plan and by the Government of British Columbia. It provides $123.5 million, including $104 million for seniors and $19.5 million for persons with disabilities, to develop up to 1,000 new affordable rental housing units, which will help to stimulate local economies in smaller communities across B.C. Under the terms of the agreement, the provincial and federal governments will provide matching contributions of $61.79 million.

Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over the next five years, to improve and build new affordable housing and help the homeless. It provides a total of $475 million, over two years, to build new rental housing, including $400 million for housing for low-income seniors and $75 million for housing for persons with disabilities. 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 Province of British Columbia’s $14-billion capital infrastructure program is creating up to 88,000 jobs, helping to build vital public infrastructure in every region of the province and stimulating local economies across B.C.

Comments Off

Housing Market Outlook Trois-Rivières CMA

Residential real estate market to remain active in 2009 and 2010

Despite a slight slowdown, activity will remain solid on the Trois-Rivières census metropolitan area (CMA) residential real estate market in 2009 and 2010. In fact, transaction volumes will stay high on the resale market, as will housing starts, which will remain above the average levels for the last few years. The rental market, for its part, will continue to post a relatively low vacancy rate. Even though the job market will be sluggish, financing conditions, which will still be very favourable, combined with strong migration, will energize the market. Job market to stay sluggish
The economy in Trois-Rivières, like in several other areas around the province, was affected by the global economic crisis that has been prevailing for over a year now. Already, the regional economy had suffered from the surging loonie, which had severely tested manufacturing companies by undermining their competitiveness on the market. The ensuing decline in demand, as a direct result of the economic slowdown, only made things worse. Consequently, job losses have now been accumulating for four quarters in the Trois-Rivières CMA (with almost all the losses having been full-time positions), in pace with the announcements of layoffs and plant closings, which have increased. On the other hand, the area will benefit from the vitality of other sectors of the regional economy, including the non-residential

Comments Off

Yukon Open Seniors Housing Project in Haines Junction

Moishe Alexander, Canadian Funding Corp – The Honourable Daniel Lang, Senator (Yukon), on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) along with Jim Kenyon, Minister Responsible for the Yukon Housing Corporation officially opened a new housing project for seniors in Haines Junction today.

The Government of Canada and Yukon Government contributed almost $2.3 million to the project through the Canada – Yukon Affordable Housing Initiative for six affordable housing units.

“The Government of Canada is committed to making affordable housing available in Yukon and across Canada for those who need it most,” said the Honourable Daniel Lang, Senator (Yukon), on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). “Through this investment, the Government of Canada is helping to provide safe and supportive housing for seniors and helping them to turn a new page in their lives.”

“The Government of Canada has helped create new housing opportunities for Yukon seniors,” said Jim Kenyon, Minister Responsible for Yukon Housing Corporation. “The Haines Junction project highlights the benefits of cooperation between governments.”

Yukon Housing Corporation worked directly with seniors in Haines Junction on the building concepts and potential locations within the community. The housing complex contains a total of nine 1-bedroom units designed specifically for seniors, in addition to common space.

In 2008, the Government of Canada committed more than $1.9 billion over five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.

Canadian Funding Corp presents Haines Junction video