Government Investments Make Conversion of Building Into Affordable Housing Possible

NORTH BATTLEFORD, SASKATCHEWAN--(Marketwired - May 16, 2014) - Low-to-moderate-income citizens in North Battleford will enjoy improved housing quality as a result of the creation of 26 rental units in a commercial building located at 1091-103^rd Street. Undertaken by Mardi Holdings Ltd., the conversion was made possible by a joint investment from the governments of Canada and Saskatchewan.

The Honourable Gerry Ritz, Minister of Agriculture and Agri-Food and Member of Parliament for Battlefords-Lloydminster, on behalf of the Honourable Candice Bergen, Minister of State (Social Development), along with Herb Cox, Member of the Legislative Assembly for The Battlefords, on behalf of the Honourable June Draude, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation, made the announcement today.

"Our Government is committed to helping those who need it most here in North Battleford and across Canada", said Minister Ritz. "We are proud to support this project and others like it that will provide safe and affordable housing for years to come."

"Together with the Government of Canada and Mardi Holdings Ltd., we are working to ensure that Saskatchewan people have access to safe, quality homes that meet their needs," said MLA Cox. "This project in North Battleford is a wonderful example of the housing opportunities that are being created in partnership with the for-profit and not-for-profit sectors. This is also a key priority under the Saskatchewan Plan for Growth, which helps to support individuals and families in greatest housing need."

"We want to thank CMHC, SHC and First National Bank for their financial support in the construction of this building," said Mardi Holdings Director Mark Hanley. "Nothing exceeds the commitment, dedication and leadership of all our partners who worked on the project from start to finish. We also have great respect for the contractors, suppliers and carpenters who support our company. We thank everyone for their dedication and guidance in making The Village Apartments a great place to live in North Battleford."

Located at 1091-103^rd Street in North Battleford, the project is a commercial building that was converted into affordable rental housing units. The exterior, structural and mechanical systems were reused and the rest of the building was completely rebuilt to meet residential code. The total cost of the project is approximately $1.5 million. The Government of Canada, through Canada Mortgage and Housing Corporation (CMHC) and the Province of Saskatchewan, through Saskatchewan Housing Corporation (SHC), jointly contributed $624,000 to develop 17 one-bedroom and nine bachelor suites, for a total of 26 rental units. The funding balance of approximately $882,000 will be provided through mortgage financing.

This funding comes as a result of the $55 million Canada-Saskatchewan Investment in Affordable Housing (IAH) 2011-2014 Agreement. Under the agreement, the Province of Saskatchewan will use the funds to create new and renovate existing affordable housing for households in need.

Annually, the Government of Canada, through CMHC, will invest approximately $2 billion in housing. Of this amount, $1.7 billion will be spent in support of close to 600,000 households living in existing social housing. In Saskatchewan, this represents an estimated 28,000 households. The remaining funding supports housing-related activities and affordable housing programs, including the Investment in Affordable Housing. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people. Economic Action Plan 2013 continues this commitment with a federal investment of more than $1.25 billion over five years to renew the Investment in Affordable Housing to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour. Close to 177,600 households across Canada are no longer in housing need as a result of funding provided under the IAH from April 1, 2011 to December 31, 2013.

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 2011, the government has invested $256 million to develop more than 24,300 units and repair more than 24,300 homes around the province.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc-schl.gc.ca.