BURNABY,
BC, July 26, 2024 /CNW/ - Today, the federal
government announced more than $40.7
million in contributions and low-cost loans through the
Affordable Housing Fund (AHF) to help build and repair 3,400
affordable homes in Burnaby and
New Westminster.
The announcement was made by the Honourable Terry Beech,
Minister of Citizen Services and Member of Parliament for
Burnaby North-Seymour - on behalf of
the Honourable Sean Fraser, Minister of Housing, Infrastructure and
Communities - alongside, Ron
McKinnon, Member of Parliament for Coquitlam-Port
Coquitlam.
The announcement took place at YWCA Marion's Place at 4281
Grange Street which received $3.2
million to build 32 homes and will be operated by YWCA Metro
Vancouver. The building will feature a mix of two and three-bedroom
apartments for women and their families living on low and moderate
incomes. The site is located close to Metrotown, grocery stores, a
library, Central Park, and transit. It also offers services onsite,
such as a Community Development Coordinator to help tenants access
bursaries, employment opportunities and other supports for economic
stability.
A detailed list of projects that received funding is provided in
an appendix to this release.
Quotes:
"Everyone deserves a place to call their own and the Affordable
Housing Fund is one way we're helping make that a reality for
Canadians. We will keep investing in affordable housing projects
like the ones announced today, and we will continue to keep working
with partners across the country to end the housing crisis once and
for all." – The Honourable Sean Fraser, Minister of
Housing, Infrastructure and Communities
"Every person deserves a safe place to call home. Burnaby is
among the most expensive rental markets in Canada. That's why we are collaborating with
local partners to increase the supply of affordable housing.
Investing in low-cost housing not only helps to prevent
homelessness and other unsafe living conditions but also supports
economic opportunities for families in Burnaby. This initiative will make Burnaby an
even more attractive place to live and work." – The
Honourable Terry Beech, Minister of Citizen Services and
Member of Parliament for Burnaby
North-Seymour
"Today's announcement is about more than just housing; it's
about providing stability and opportunities for families in our
region. By supporting projects like YWCA Marion's Place, we're
helping women and their children build brighter futures in a
supportive community. Through the Affordable Housing Fund, we are
making sure that every Canadian has a safe and affordable place to
call home. Working together as partners, all orders of government
are building more of the housing we need in our
communities." – Ron
Mckinnon, Member of Parliament for Coquitlam-Port
Coquitlam
"With growing income inequality and rising cost of living, we
must focus our efforts on creating more affordable housing for
women and their children to grow and thrive. More than half of
single parent households in BC are living below the poverty line
and these are predominately led by women. We are grateful to be
recipients of the Affordable Housing Fund and want to thank CMHC
for their support. Together with generous donors and the support of
community partners, CMHC's contribution will create 32 units and
provide 73 women and children with safe and affordable homes to
build a strong future at YWCA Marion's Place." - Erin Seeley, CEO YWCA Metro Vancouver
"Building new homes is challenging in this economic environment,
so to have the Affordable Housing Fund available to help bring this
new community to life is extremely rewarding. We are so pleased to
be able to deliver these 32 homes for the YWCA and the families
that rely on their services." – Henry McQueen, Vice President Development,
Qualex-Landmark
Quick facts:
- The Affordable Housing Fund (AHF) provides funding
through low-interest and/or forgivable loans or contributions to
partnered organizations for new affordable housing and the
renovation and repair of existing, affordable and community
housing. This is a $13.2 billion
program under the National Housing Strategy (NHS) that gives
priority to projects that help people who need it most, including
women and children fleeing family violence, seniors, Indigenous
peoples, people living with disabilities, those with mental health
or addiction issues, veterans, and young adults.
- As of March 2024, the federal
government has committed $50.97
billion to support the creation of over 146,000 units and
the repair of over 286,000 units.
- To support the Government's work to grow housing supply and
address the need for more affordable and rental homes, CMHC is
implementing the Frequent Builder framework.
- The Frequent Builder framework will help expedite applications
for the Affordable Housing Fund and the Apartment Construction Loan
Program. The Frequent Builder status is given to existing
housing providers with a proven track record of building
multi-residential units. Different criteria apply to Governments,
non-profit and for-profit organizations to qualify for Frequent
Builder status.
- Frequent Builders may receive benefits such as priority
treatment, a streamlined process through intake, underwriting and
approval stages, underwriting and advancing flexibilities, as well
as the possibility of funding commitments for future years which
will allow funding predictability and better planning for their
pipeline of projects.
Additional Information:
- Visit Canada.ca/housing for the most requested Government of
Canada housing information.
- CMHC contributes to the stability of the housing market and
financial system, provides support for Canadians in housing need,
and offers unbiased housing research and advice to all levels of
Canadian government, consumers and the housing industry. CMHC's aim
is that everyone in Canada has a
home they can afford and that meets their needs. For more
information, follow us on Twitter, Instagram, YouTube, LinkedIn and
Facebook.
- To find out more about the National Housing Strategy, please
visit www.placetocallhome.ca.
Appendix: Projects receiving funding under AHF
Project
Name
|
Region/City
|
Funding
|
Units
|
Shelter YWCA Grange
St
|
Burnaby
|
$3,200,000
|
32
|
Affordable Housing
Societies Repairs
|
New
Westminster
|
$11,140,000
|
1114
|
Heat our
Homes
|
New
Westminster
|
$103,451
|
16
|
Metro Vancouver Housing
– Portfolio of Building Retrofits and Repairs
|
Burnaby
|
$5,600,000
|
560
|
(M) (RR) BC Housing
Repair Portfolio - Province
|
Burnaby
|
$16,170,000
|
1617
|
L'Arche Greater
Vancouver Sussex Redevelopment
|
Burnaby
|
$4,531,481
|
61
|
Total
|
$40,744,932
|
3400
|
SOURCE Canada Mortgage and Housing Corporation (CMHC)