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Peterborough Celebrates New Affordable Housing

The Government of Canada, the Government of Ontario, and the City of Peterborough today celebrated the official opening of an affordable housing project. The project is supported by more than $2 million in funding under the Canada – Ontario Affordable Housing Program.

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.