SASKATOON, SASKATCHEWAN--(Marketwired - June 22, 2017) - The Governments of Canada and Saskatchewan, along with Elim Lodge Inc. (Elim), officially opened Hyde Park View, a new 140-unit rental housing project for seniors in Saskatoon. Fifteen units are designated for seniors with low-to moderate- incomes.

The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Don Morgan, Minister of Education and Member of the Legislative Assembly for Saskatoon Southeast, on behalf of the Honourable Tina Beaudry-Mellor, Minister of Social Services and Minister Responsible for the Saskatchewan Housing Corporation (SHC), made the announcement today.

Quick facts:

• The federal and provincial governments, through CMHC and SHC, jointly contributed $600,000 towards 15 of the 140 units through the Capital Rent Subsidy under the Canada-Saskatchewan Investment in Affordable Housing (2014-2019) Agreement. Elim provided about $37 million through cash/equity, mortgage financing, and life lease sales. The City of Saskatoon contributed $320,325 in funding and estimated tax abatements towards the project.
  
  
• Hyde Park View is located at 333 Slimmon Place in Saskatoon. It is an age-in-place facility with building features and design that allows seniors to receive different levels of services and care. Several amenities are offered to tenants including dining and meal options.
  
  
• Of the 140 units in Hyde Park View, 15 are rental units, 25 are personal care suites, and 100 are life lease units. Each of the 15 rental units accommodates independent living.
  
  
• The one-bedroom and one-bedroom with a den units range in size from 653 square feet (60.6 square meters) to 918 square feet (85.3 square meters).
  
  
• Elim incorporated as a non-profit, Christian-based charitable corporation in 1981 to provide safe, affordable, independent living for seniors.

Quotes:

"The Government of Canada made a commitment to help Canada's seniors, and we are following through on that commitment with this important investment. Our Government is proud that we could play a role in assisting seniors with low incomes meet their housing needs by providing funding for this important project. We will continue working with groups such as Elim Lodge to ensure vulnerable groups have access to safe and affordable housing." - Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation

"We are pleased to have been a part of the Hyde Park View project to provide Saskatoon seniors with a safe, quality home that meets their respective needs. Everyone needs a place to call home, and today's event demonstrates what we can achieve when we work together. Our government is committed to supporting those in greatest housing need, and helping to provide seniors an opportunity to live in a safe, stable community environment." - Honourable Don Morgan, Minister of Education and Member of the Legislative Assembly for Saskatoon Southeast

"The City of Saskatoon is pleased to partner on this investment that will help Saskatoon seniors have secure housing and a greater sense of community. What makes this project so significant is that over 10 percent of Hyde Park View's units are designated for seniors that have lower incomes, helping to make Saskatoon a city that better supports our more vulnerable citizens and neighbours." - His Worship Charlie Clark, Mayor, City of Saskatoon

"Providing affordable housing for 50-plus adults is the mandate of Elim Lodge Inc. Our new facility, Hyde Park View, adds 140 suites and 216,000 square feet of living space to the Saskatoon senior housing market. This major expansion for our not-for-profit corporation was made possible, in part, by the generous financial support of the Government of Canada and the Province of Saskatchewan. We are grateful for the visionary initiative of our governments to partner with organizations like ours to provide much-needed affordable housing units." - Greg Foley, Chief Executive Officer, Elim Lodge Inc.

Associated links:

- CMHC has been helping Canadians meet their housing needs for more than 70 years. As Canada's authority on housing, 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 Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of CMHC's operations. For more information, please call 1-800-668-2642 or visit www.cmhc.ca or follow CMHC Twitter, YouTube, LinkedIn and Facebook.

- 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 over $750 million to develop or repair more than 15,500 housing units across our province.