“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.

“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.

Canada Mortgage and Housing Corporation (CMHC) marked National Housing Day by launching a call for entries to the 2010 CMHC Housing Awards Program, which recognizes private sector-led best practices in affordable housing.

“National Housing Day is an opportunity to showcase solutions that address affordable housing needs in Canada,” said Karen Kinsley, President of CMHC. “Today’s call for entries to the 2010 CMHC Housing Awards is an invitation to the private sector to bring forward innovative initiatives to improve affordable housing so that these ideas may be shared with communities across Canada.”

The Housing Awards Program was created in 1988 to identify, recognize, showcase and share best practices that have helped to improve the quality, choice and affordability of housing in Canada. The program honours the people and organizations creating affordable housing solutions across the country. Applications must represent private sector-led initiatives that have demonstrated a range of affordable housing solutions to meet the needs of the communities they serve. The deadline for submissions is April 16, 2010.

This program is just one way CMHC advances affordable housing solutions across Canada. CMHC also has an Affordable Housing Centre, which has a team of housing experts dedicated to working with individuals and organisations from the private, non-profit and public sectors to help them develop their affordable housing projects. They offer project-specific expertise, help determine if a housing project is financially viable, identify resources and other potential partners, and share information on what has worked in other communities.

The  Affordable Housing Centre website offers a comprehensive inventory of information, tools and resources, including a collection of more than 100 affordable housing project profiles highlighting successful approaches that have been implemented in communities across Canada.

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.