New Rental Housing Officially Opens in Regina

REGINA, SASKATCHEWAN--(Marketwired - Feb. 26, 2016) - The Governments of Canada and Saskatchewan, along with the City of Regina and Sterling Manor Apartments GP Inc., today celebrated the opening of Sterling Manor Apartments. The new complex will provide 30 new affordable rental units for moderate-income individuals and families in Regina.

The Honourable Ralph Goodale, Minister of Public Safety and Emergency Preparedness, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with the Honourable Christine Tell, Minister of Corrections and Policing and Member of the Legislative Assembly for Regina Wascana Plains, on behalf of Social Services Minister and Minister responsible for the Saskatchewan Housing Corporation Donna Harpauer, and His Worship Michael Fougere, Mayor of the City of Regina, made the announcement today.

Quick facts:

• This project is located at 3904, 3908 and 3912 Green Falls Drive in Regina. The three buildings have a total of 160 units, of which 30 units are being rented under the Capital Rent Subsidy (CRS) program.
  
  
• The 30 subsidized units are a mix of one- and two-bedroom units located throughout the three buildings. One-bedroom units are 650 square feet (60.39 square metres) and two-bedroom units are 825 square feet (76.65 square metres).
  
  
• The Federal and Provincial Governments, through CMHC and SHC, are jointly contributing $1.2 million towards the 30 units under the Canada-Saskatchewan Investment in Affordable Housing (2011-2014) Agreement.
  
  
• The project will be eligible for a 100 per cent tax exemption from the City of Regina for five years, under the City's Housing Incentives Policy for purpose-built rental units.
  
  
• Sterling Manor Apartments GP Inc. contributed about $23 million in the form of cash/land equity and mortgage financing.
  
  

Quotes:

"I want to congratulate everyone involved in Sterling Manor along with the funding partners - CMHC and the Province of Saskatchewan - that have been so supportive in getting this development open for individuals and families. In the coming weeks and months, we look forward to working with Canadians, housing stakeholders and our partners in provinces, territories and municipalities as we restore a constructive role for the federal government in supporting affordable housing." - Honourable Ralph Goodale, Minister of Public Safety and Emergency Preparedness, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation

"We are proud to work with the Government of Canada, the City of Regina, and Sterling Manor Apartments GP Inc. to create homes that will improve the quality of life for Saskatchewan people and keep Saskatchewan strong. This project reflects our Government's continued commitment to ensure stronger families and safer communities. We are pleased to have worked with our partners to make this vision a reality." - Honourable Christine Tell, Minister of Corrections and Policing and Member of the Legislative Assembly for Regina Wascana Plains, on behalf of the Honourable Donna Harpauer, Minister of Social Services and Minister Responsible for Saskatchewan Housing Corporation

"There remains an acute need for below-market rental housing in Regina, and City Council is proud that our housing incentive policies can help bring this kind of project forward. We are very thankful for Sterling Apartments GP Inc. for taking the initiative to provide these 30 suites, and to the Federal and Provincial Governments for their support." - His Worship Michael Fougere, Mayor of Regina

"We are proud to partner with the Saskatchewan Housing Corporation to provide another affordable housing option to the residents of Regina and Saskatchewan. We would like to commend the government at all levels for taking the steps that were necessary to bring these units into the community. We trust that residents will find the Sterling Manor Apartment complex safe, comfortable and a great place to call home." - Denis Jones, Director, Sterling Manor Apartments GP Inc.

Associated links:

• Canada Mortgage and Housing Corporation has been Canada's authority on housing for over 70 years. To find out more about how the Government of Canada and CMHC help Canadians meet their housing needs, visit www.cmhc.ca or call 1-800-668-2642.
  
  
• In October 2012, the Government of Saskatchewan released the Saskatchewan Plan for Growth: Vision 2020 and Beyond, which sets out the Government's vision for a province of 1.2 million people by 2020. The Plan identifies principles, goals and actions to ensure Saskatchewan is capturing the opportunities and meeting the challenges of a growing province. Since 2007, the Government of Saskatchewan has invested almost $700 million to develop and repair more than 14,600 homes around the province.
  
  

Stay connected:

• Follow CMHC on Twitter @CMHC_ca