Governments of Canada and Alberta Announce Funding for Seniors' Affordable Housing

MAGRATH, ALBERTA--(Marketwired - July 28, 2014) - Today the Governments of Canada and Alberta announced a combined investment of some $47 million to help more low-income seniors in need of affordable housing. Five seniors' lodges in Alberta will receive funding to build new or renovate existing units.

As part of this announcement, the Diamond Willow Terrace Lodge located in the community of Magrath will receive more than $7.5 million. The lodge currently has 39 units that will be renovated into 20 larger units with an additional 23 new units to be added to the facility.

Jim Hillyer, Member of Parliament for Lethbridge, on behalf of the Honourable Candice Bergen, Minister of State (Social Development), along with Greg Weadick, Minister of Municipal Affairs made the funding announcement.

Our Government is proud to invest in affordable housing for seniors, said MP Hillyer. With these five new projects underway, we are taking action and demonstrating our commitment to helping those who need it most. We recognize that our seniors are best served by accessing safe and affordable housing while staying close to their families and friends, in their communities.

"The Alberta government recognizes the important contributions seniors have in building healthy, vibrant communities. This funding and the projects it will support demonstrates our commitment to ensuring Alberta's seniors have access to the housing and supports they need to live comfortably and with dignity," said Greg Weadick, Alberta Minister of Municipal Affairs

The seniors' lodges will receive $40 million in joint funding from the Governments of Canada and Alberta with an additional $7.56 million in funding from the province through Alberta Social Housing Corporation surplus earnings, for a total of $47.56 million. Diamond Willow Terrace lodge will receive more than $6.3 million in joint Government funding with an additional $1.1 million unilaterally from the Province of Alberta.This funding comes as a result of the $121 million Investment in Affordable Housing (IAH) 2011-2014 agreement between the Governments of Canada and Alberta.

Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (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 Alberta, this represents an estimated 36,300 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 continued 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. From April 2011 to March 2014, the IAH has already helped more than 183,600 households nationally, and more than 952 in Alberta.

Through partnerships with federal and municipal governments, community groups, and the non-profit and private sectors, Alberta has made great strides to increase the supply of affordable housing across the province. Since 2007, the Government of Alberta has supported the development of 12,000 affordable housing units for homeless and lower-income Albertans through capital grant funding in 62 communities. The province exceeded its original goal of 11,000 units in September 2012. Housing support to those in need is helping to build strong communities and is part of the Building Alberta Plan. For more information on Alberta's housing support, visit http://municipalaffairs.gov.ab.ca/housing.cfm

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.

Follow CMHC on Twitter @CMHC_ca

BACKGROUNDER

Investment in Affordable Housing (IAH) 2011-2014 Agreement

Alberta Seniors Lodges

Under the IAH Agreement, the Government of Canada and the Government of Alberta are investing a total of more than $47 million in five projects for lower-income seniors. The cost-shared grants are being issued through the 2011-2014 Housing Capital Initiatives program, which supports housing partnerships that leverage the resources and expertise of municipalities, the federal government, non-profit organizations, local housing management bodies, and the private sector.