Posted: November 12, 2009 at 12:49 pm | Tags: activity, Area, canadian funding corporation, census, CMA, economy, Estate, fact, Housing Market, JOB, market, moishe alexander, Outlook, Residential, Rivières, slowdown, transaction
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
Posted: August 26, 2009 at 9:36 am | Tags: Affordable, Assistance, canada, Cheryl Gallant, Diane Finley, government, Housing Market, Janice Visneckie, Linda Boucher, Minister Responsible, moishe alexander, Mortgage, MP Gallant, Renfrew County, RRAP
The Government of Canada officially opened an 18-unit affordable housing project today. Originally an old school, the new complex will provide affordable housing for low-income individuals and those with special needs in Pembroke.
The $1.17M conversion project has 10 units of affordable housing and eight accessible units for those with special needs.
Cheryl Gallant, Member of Parliament for Renfrew – Nipissing – Pembroke, 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); Janice Visneckie, former Warden of Renfrew County; and project sponsors Aurel and Linda Boucher, along with guests and tenants officially opened the new facility on McKenzie Street.
“This Government is working hard to support Canadians during these challenging economic times,” said MP Gallant. “With these investments in Pembroke, we are making an important difference in the lives of some of our community’s most vulnerable citizens. Low-income individuals and those with special needs now have quality, affordable housing, while remaining close to their families and friends.”
The federal government provided $624,000 through Canada Mortgage and Housing Corporation’s Residential Rehabilitation Assistance Program (RRAP — Conversion) and RRAP Persons with Disabilities to renovate the school. RRAP — Persons with Disabilities funded the creation of eight accessible units for those with special needs. This program provides financial assistance for the creation of affordable housing for low-income households by the conversion of non-residential properties into affordable, self-contained rental housing units.
Last fall, 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.
Posted: August 11, 2009 at 8:25 am | Tags: David Orazietti, Government of Canada, Housing Corporation, investment, moishe alexander, MPP for Sault Ste. Marie, Province of Ontario, Renovated, SAULT STE. MARIE, Social Housing, Social Housing in Sault Ste. Marie Being Renovated
Posted By Moishe Alexander
Its always great to see more money going to repair social housing units.
SAULT STE. MARIE, August 11, 2009 — The Government of Canada and the Province of Ontario today announced that the Columbus Club of Sault Ste. Marie Housing Corporation will receive support for repairs and renovations over the next two years.
The work will include a roof replacement.
The Columbus Club of Sault Ste. Marie Housing Corporation will receive $54,000 — part of a notional allocation of more than $4.9 million to Sault Ste. Marie to repair and retrofit existing local social housing units.
The funding was made available as a result of a $1.2 billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement, which includes funding through Canada’s Economic Action Plan and by the Government of Ontario. The federal and provincial governments are contributing equally to this overall investment.
The Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and David Orazietti, MPP for Sault Ste. Marie, on behalf of the Honourable Jim Watson, Ontario Minister of Municipal Affairs and Housing, made the announcement today.
“Renovation and retrofit projects, like this one, will improve the quality of life for residents by keeping their homes safe and affordable,” said Minister Finley. “It is also a good way to get the local economy moving because it puts construction workers and trades people to work quickly and most of the materials and supplies are made in Canada.”
“These repairs are another step towards improving social housing in Sault Ste. Marie,” said MPP Orazietti. “This new funding will help ensure that people living in social housing have a safe and reliable place to live. Ontarians deserve nothing less.”
Ontario is moving quickly to invest a total of $704 million to repair eligible social housing across the province. In an effort to get shovels in the ground quickly, projects must be committed by the end of the fiscal years 2010 and 2011.
The funding will help improve the quality of life for residents living in social housing communities. Funding will be used to renovate and make energy-saving upgrades to existing social housing as well as to undertake accessibility modifications for the benefit of seniors and persons with disabilities. It will also create jobs and strengthen local economies. To find out more about affordable housing in Ontario, visit www.mah.gov.on.ca.
Last fall, 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.
Last month, the Government of Canada and the Province of Ontario, announced a series of investments of more than $70 million to fund 36 construction-ready projects throughout the province under the amended Canada – Ontario Affordable Housing Program Agreement.