“Our government is dedicated to meeting the increased demand for student housing across the country” said Ed Holder, Member of Parliament for London West. “We’re helping developers and borrowers access competitive interest rates for the life of the mortgage, benefit from greater financing choices and lower renewal risk. Our government is supporting students and creating jobs in university and college communities across the country.”

The Government of Canada will help finance loans of up to 85 per cent of the lending value for the construction, purchase or refinancing of housing purposely built for students on or off campus through CMHC’s Mortgage Loan Insurance for multi-unit student housing. This initiative supports the housing needs of Canadian publicly funded educational institutions, including universities and colleges.

The demand for student housing is anticipated to continue to increase for an extended period as a result of changing demographics, forecasted enrolment figures and continued growth in international students.

“Today’s announcement is good news and will help developers in Canada respond to the housing needs of students,” said Ray Stanton, President of London Property Corporation.

The Government of Canada has taken additional measures to help Canadian families. As of August 1, 2009, new federal student financial assistance measures — the Canada Student Grants Program and the Repayment Assistance Plan — are helping students and families access postsecondary education and better manage their student loan debt. To find out more about how the Government of Canada is helping students achieve their educational goals, visit CanLearn.ca.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

“Canada’s Economic Action Plan is stimulating the economy and creating jobs during the global recession here in British Columbia and across Canada,” said Senator Yonah Martin, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).This is a good way to get the local economy moving and put construction workers and tradespeople to work quickly, as well as improving the quality of existing social housing, giving a hand-up to those families who need it most.”

“The Province is committed to providing increased access to safe, affordable, supportive housing for our most vulnerable people, and that is why we’ve provided $10.4 million for the purchase and renovation of the Russell Housing Centre,” said Harry Bloy, MLA for Burnaby – Lougheed. “Combining emergency shelter with transitional housing under one roof is an effective method to help break the cycle of homelessness here in New Westminster and across British Columbia.”

The Russell Housing Centre is a designated heritage building that has been renovated to provide 40 single-room occupancy (SRO) hotel units and 15 shelter beds and will provide emergency shelter and social housing for adults at risk of homelessness in New Westminster. Through the amended Canada – British Columbia Affordable Housing Agreement, the Government of Canada and the Province of British Columbia are contributing $1.1 million for repairs and renovations to the 40 SRO units.

“This development makes a significant contribution to the City’s continuum of housing, enabling our locally homeless population to access quality shelter and support services. It also preserves an important piece of the City’s heritage,” said New Westminster Mayor Wayne Wright.

Lookout Emergency Aid Society manages and operates the Russell Housing Centre. The Centre will be open 24 hours, 365 days a year, and will provide such basics as shelter, food and laundry, as well as support and assistance to men who are without a home. Tenants will receive life skills training on cooking and nutrition, budgeting and basic hygiene, gaining the necessary skills to move towards living independently.

“Helping people identify and plan around their challenges, linking them to needed services will help prevent them from becoming homeless again,” said Karen O’Shannacery, executive director of Lookout Emergency Aid Society. “Our long-standing partnership with the Province and BC Housing has played a pivotal role in the creation of many of Lookout’s supportive housing developments.”

The Housing Renovation Partnership is the 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. The Housing Renovation Partnership will provide $177 million for the renovation and retrofit of social housing. Under the terms of the agreement, the provincial and federal governments will provide matching contributions of $88.82 million. Overall, Canada’s Economic Action Plan includes $2 billion for the construction of new and the repair of existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

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 $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing, to improve the quality of existing social housing for low-income seniors, single-parent families, recent immigrants and Aboriginal households.

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.

Dean Del Mastro, Member of Parliament for Peterborough, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation; Jeff Leal, Member of Provincial Parliament for Peterborough, on behalf of the Honourable Jim Bradley, Minister of Municipal Affairs and Housing; Henry Clarke, Deputy Mayor of Peterborough on behalf of Paul Ayotte, Mayor of Peterborough; and Bonnie Clark, Chair of Peterborough Housing Corporation made the announcement.

“This is great news for families and individuals in Peterborough. Our Government is providing a hand-up to those families in need,” said MP Del Mastro. “Through projects like these, our government is stimulating the economy and creating jobs to help Canadians recover from the economic downturn.”

“The province is committed to helping people who live on lower or fixed incomes stay in their home communities,” said MPP Leal. “Investment in affordable housing is not only a fundamental support for individuals and families trying to break the cycle of poverty, it also improves job prospects and supports local trades and business.”

Today’s announcement recognized the official opening of 30 affordable housing units at Saunders Court, located at 130 Anson Street. The project for households with low incomes and persons with special needs is sponsored by the Peterborough Housing Corporation.

The federal and provincial allocations to the project were complemented by $355,459 in municipal financial incentives.

“Saunders Court is an exciting new development that will provide 30 new affordable housing units in the City of Peterborough,” said Mayor Paul Ayotte. “Peterborough Housing Corporation is to be congratulated for their continued efforts to create housing opportunities for low-income households in Peterborough.”

“We believe this building is our best effort yet”, said Bonnie Clark, Chair of Peterborough Housing Corporation. “This site has been part of a continuum of service to the community for nearly a century, as both a refuge and home for those in need.”

The Canada – Ontario Affordable Housing Program Agreement comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.

In 2008, the Government of Canada committed more than $1.9 billion over the next 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. Combined for Ontario, this means a further $1.2 billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement. The federal and provincial governments are contributing equally to this overall investment.

Funding in the amount of $679,500 has been made available for the initiative through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession. The federal and provincial governments are contributing equally to this overall investment of $132 million under the amended Canada – Saskatchewan Affordable Housing Program Agreement. Other funding includes $400,000 from the Government of Canada’s Homelessness Partnering Strategy and $54,500 from the City of Prince Albert.

“Through Canada’s Economic Action Plan, our Government is helping Canadians during these tough economic times,” said MP Hoback. “Here in Prince Albert, this achievement gives a hand-up to low-income youth who need safe, affordable housing that meets their needs. This is also a good way to get the local economy moving because it puts construction workers and trades people to work quickly.”

“Our government is pleased to help provide safe, affordable housing for at-risk youth in the community of Prince Albert,” MLA Darryl Hickie said. “This aligns with our vision of putting vulnerable people first and helping them build better lives for themselves. Affordable housing is a key component of that.”

“Affordable housing is a community matter and this project is another example that, by working together, we can respond to the needs of individuals and families who are most vulnerable, by providing safe, secure and affordable housing for all,” said Mayor Jim Scarrow. “This project will provide these individuals with a home for a successful transition to living independently. Together we can build a greater city and province.”

Persons with disabilities often have difficulty finding housing that meets their specific needs. Canada’s Economic Action Plan provides $75 million over two years to build new rental 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 eight-plex, located at 74 – 18th Street West in Prince Albert, will provide safe, affordable housing for very low-income youth with mental health and cognitive disabilities. Four of the units will be for those who are also homeless or at risk of homelessness. The residence is located within walking distance of the downtown core and a local drop-in centre, The Nest, which provides meals and programs that address independent living skills and employment initiatives.

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.

The amendment to the Canada – Saskatchewan Affordable Housing Program Agreement, which included funding under Canada’s Economic Action Plan, signed in May 2009, brought federal housing support of $74 million to the province. The Government of Saskatchewan will match that commitment for a total of $148 million to assist those in housing need and, in collaboration with other levels of government and community partners, to make various types of affordable housing programs possible. In Saskatchewan, federal-provincial housing programs are delivered through the Saskatchewan Housing Corporation.

The Government of Canada and the Government of Prince Edward Island today announced a joint investment to build new affordable housing on the Island. The bundled announcement represents a total of 21 affordable rental units for persons with disabilities and is made possible in part through a $775,000 investment from the Canada – P.E.I. Affordable Housing Agreement.

The Honourable Gail Shea, Minister of Fisheries and Oceans and Regional Minister for Prince Edward Island, 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 Robert Ghiz, Premier of Prince Edward Island, made the announcement.

“The Government of Canada is dedicated to helping those in need in Prince Edward Island through these tough economic times,” said Minister Shea. “Through projects like these, our government is providing safe affordable housing to many residents in our community while creating jobs and stimulating our economy.”

“We’re pleased to partner with the Federal Government on these significant initiatives for the City of Summerside and the community of Hunter River,” said Premier Robert Ghiz. “The Hunter River project is in line with the provincial government’s Rural Action Plan which supports the continued provision of essential services in rural communities.”

Today’s announcement recognized funding for three multi-unit affordable housing projects in Prince Edward Island. Scotcor Rentals Inc., Community Connections Inc. and HR Holdings Ltd. are developing the buildings at three separate locations in Summerside and Hunter River, near schools, businesses and community services.

The Canada – Prince Edward Island Affordable Housing Agreement involves an investment of $8.32 million in affordable housing in Prince Edward Island. To date, more than 155 units have been supported by the Agreement in rural and urban communities across P.E.I.

The Government of Canada announced today an investment of almost $2.3 million as part of the year one funding through Canada’s Economic Action Plan to improve housing conditions for the James Smith Cree Nation, Peter Chapman Band and Chakastaypasin Band communities.

The Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) and the Honourable Chuck Strahl, Minister of Indian Affairs and Northern Development (INAC), Federal Interlocutor for Metis and Non-Status Indians, made the announcement today.

“Our Government’s Economic Action Plan is creating jobs, stimulating the local economy and improving housing conditions for First Nation communities in Saskatchewan,” said Minister Finley.

Through Canada’s Economic Action Plan, the Government of Canada has committed $400 million over the next two years to help First Nation communities build needed new housing, repair and remediate existing non-profit housing for their members, and complement housing programs offered by CMHC and INAC. This investment will also provide an economic stimulus for many First Nations and surrounding areas by creating jobs.

“The Government of Canada recognizes that quality housing is a fundamental building block for every First Nation family and community,” said Minister Strahl. “Through Canada’s Economic Action Plan, our government invested $400 million over two years dedicated to new and renovated social housing projects, which includes $60 million for First Nations in Saskatchewan.”

Through Canada’s Economic Action Plan, some $60 million in federal investments will be made available to First Nations in Saskatchewan to address immediate housing needs.

CMHC will allocate almost $550,000 to retrofit 20 existing social housing units and more than $1.4 million in subsidy associated with the construction of eight new social housing units. In addition, INAC will contribute $386,000 for major renovations to 15 housing units. This funding will go a long way to help improve housing conditions in these First Nation communities.

On behalf of the combined 2800 band members, the three Chiefs wish to acknowledge the Canadian Economic Action Plan’s initiative to stimulate the Canadian Economy by investing millions of dollars in First Nation communities. These investments in First Nation housing and infrastructure allow for an increased standard of living and the continued delivery of essential services to our ever-increasing populations. Furthermore, the members wish to acknowledge the hard work, cooperation, and organizational efforts of the Canadian Government, the Canada Housing and Mortgage Corporation and Indian and Northern Affairs Canada in the implementation of the CEAP funding.

Housing starts rebounded in the second half of 2009 and will strengthen in 2010, according to Canada Mortgage and Housing Corporation’s first quarter Housing Market Outlook, Canada Edition*.

Following a total of 149,081 units in 2009, housing starts are expected to be in the range of 152,000 to 189,300 units in 2010, with a point forecast of 171,250 units. In 2011, housing starts will be in the range of 156,400 to 205,600 units, with a point forecast of 175,150 units.

“Canadian housing markets will benefit from improving economic conditions and low mortgage rates,” said Bob Dugan, Chief Economist for CMHC. “As well, measures recently announced by the Government of Canada to support the long-term stability of Canada’s housing market will help moderate housing activity as some potential buyers will have to save a larger down payment or consider a less expensive home.”

Mr. Dugan also noted that the existing home market has shifted from a buyers’ market, at the beginning of 2009, to a sellers’ market. The relative lack of new listings for existing homes has pushed some of the demand into the new home market, which helps explain the forecast for higher housing starts activity in 2010.

The strong pace of MLS®1 sales seen in the second to fourth quarters of 2009 reflects, in part, activity that was delayed in the previous two quarters. The pace is not likely to be sustained as pent-up demand is exhausted and financing costs increase with anticipated higher interest rates later in 2010. As a result, existing home sales will be in the range of 455,350 to 509,900 units in 2010, with a point forecast of 486,700 units, and then move slightly lower in 2011 to be in the range of 426,300 to 494,600 units, with a point forecast of 469,950 units.

With an improved balance between demand and supply, the average MLS® price is expected to remain close to the average in the last quarter of 2009, for most of 2010, and then rise modestly in 2011.

Posted by Moishe Alexander

“The gain in February housing starts was concentrated in the multiple starts segment, particularly in Toronto,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre.

The seasonally adjusted annual rate of urban starts increased by 9.0 per cent to 179,100 units in February. Urban multiple starts increased by 19.1 per cent to 89,900 units while single urban starts increased by 0.5 per cent to 89,200 units.

February’s seasonally adjusted annual rate of urban starts increased by 28.6 per cent in Ontario, by 14.3 per cent in Atlantic Canada, by 10.8 per cent in the Prairie region and by 8.0 per cent in British Columbia. In Quebec, the seasonally adjusted annual rate of urban starts decreased by 14.1 per cent.

The Honourable Christian Paradis, Minister of Natural Resources, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), made the announcement today.

“Our government’s Economic Action Plan is improving housing conditions for those who live in First Nation communities in Quebec. We are also stimulating the local economy by creating jobs,” said Minister Paradis.

Through Canada’s Economic Action Plan, the Government of Canada has committed $400 million over the next two years to help First Nation communities build needed new housing, repair and remediate existing non-profit housing for their members, and complement housing programs offered by CMHC. This investment will also provide an economic stimulus for many First Nations and surrounding areas by creating jobs.

The application calls for the year one (2009/2010) new funding initiatives under Canada’s Economic Action Plan were very successful and generated a large number of applications. As a result, CMHC will be fully allocating all the available funding for the fiscal year.

The year two (2010/2011) application call is now open. Applications for this second round of funding will be accepted between February 1, 2010 and February 22, 2010.

Through Canada’s Economic Action Plan, some $45 million in federal investments will be made available to First Nations in Quebec to address immediate housing needs.

CMHC will allocate $150,000 to retrofit 48 social housing units in Kahnawake and Kanesatake to improve living conditions in these First Nation communities.
Posted by Moishe Alexander the CEO of Canadian Funding Corp .

“CMHC is pleased to support the many municipalities, home builders and non-profit housing providers working to develop local housing solutions that will benefit the economy and revitalize communities across the country,” said Douglas Stewart, Vice-President, Policy and Planning, CMHC.

In operation since 1990, ACT provides grants of up to $5,000 to teams of municipalities and private or non-profit home builders who promote the improvement of planning and building regulations in their communities to make housing more affordable and responsive to local needs. ACT also offers a wealth of proven best practices and lessons learned so that communities can benefit from the innovations of others.

ACT is funded by CMHC and administered and delivered by the Federation of Canadian Municipalities (FCM), with the participation of the Canadian Home Builders’ Association (CHBA) and the Canadian Housing and Renewal Association (CHRA).

“ACT assists municipalities, home builders and housing groups to work together on regulatory reforms that support innovation. ACT has a significant impact leading to the creation of new affordable housing options,” said FCM President Basil Stewart.

“By sharing information about how housing providers, builders and municipalities implemented changes, other local teams across the country can benefit when adopting those changes in their own communities,” added CHRA President David Eddy.

“ACT grants have helped home builders to work with municipalities to streamline approvals and eliminate hurdles in planning and building regulations in order to improve housing affordability and choice,” said CHBA President Gary Friend.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant, healthy communities and cities across the country.