WOLFVILLE, NS, July 29,
2024 /CNW/ - Today, the federal government announced
more than $10 million in
contributions and low-cost loans to Woodman's Grove through the
Affordable Housing Fund (AHF) to help build 72 affordable homes in
Wolfville.
The announcement was made by Kody
Blois, Member of Parliament for Kings-Hants, on behalf of
the Honourable Sean Fraser, Minister of Housing, Infrastructure and
Communities
Located at 36 Woodman Road, the building will be operated by
POLYCORP Group. and will provide housing to seniors that need to
downsize, by providing smaller, affordable suites in the
Wolfville area. The site is
surrounded by residential properties and has convenient access to
major amenities such as transit, healthcare, libraries, and
parks.
The homes are expected to be completed by December 2024.
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 one announced today, and working with partners across the
country, to end the housing crisis." – The Honourable Sean
Fraser, Minister of Housing, Infrastructure and
Communities
"The Government of Canada is
pleased to have supported this important funding here in
Wolfville. Through the Affordable
Housing Fund, we are committed to making communities stronger in
our province and across Canada. I
am proud that this investment of over $10
million will not only help create new jobs and stimulate the
local economy, but also help to provide over 72 more secure and
affordable homes for community in Wolfville." – Kody Blois, Member of Parliament for
Kings-Hants
"The Affordable Housing Fund financing has been instrumental in
allowing us to develop these 60 affordable housing units in
Wolfville, which has a tremendous
demand for housing. The project will see us bring suites to market
at well less than prices that would otherwise be possible." –
Peter Polley, POLYCORP Group
Quick facts:
- The federal funding announced today is helping create a total
of 72 new homes
- The Affordable Housing Fund (AHF) provides
funding through low-interest and/or forgivable loans or
contributions to help build new affordable homes and renovate and
repair existing, affordable and community housing.
- Through the 2023 Fall Economic Statement, the government
announced an additional $1 billion
for the Affordable Housing Fund, bringing the total funding to over
$14 billion. To further support
non-profit, co-operative, and public housing providers and respond
to the needs of those most impacted by the housing crisis, Budget
2024 committed an additional $1
billion to the fund.
- This program under the National Housing Strategy (NHS)
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 through the NHS 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.
SOURCE Canada Mortgage and Housing Corporation (CMHC)