The Government of Canada, the Government of Ontario, and the County of Wellington celebrated the grand opening of 55 affordable rental units. The project is supported by more than $3.8 million in funding through the Canada – Ontario Affordable Housing Program.

The Honourable Michael Chong, Member of Parliament for Wellington – Halton Hills, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and John Wilkinson, Member of Provincial Parliament for Perth – Wellington, on behalf of Jim Bradley, Ontario’s Minister of Municipal Affairs and Housing, along with Joanne Ross-Zuj, County of Wellington Warden made the announcement.

“Our Government is dedicated to giving a hand-up to those in need, which is why we are proud to have invested in this project in Fergus,” said MP Michael Chong. “These 55 units are more than just safe and affordable places to live. They are the key to a better life for the families and individual that will call them home.”

“The province of Ontario is committed to helping people who live on lower or fixed incomes stay in their home communities,” said MPP John Wilkinson. “These 55 new affordable accessible rental units are going to make a positive difference in the lives of these individuals and families. The construction is part of our Open Ontario plan to create jobs and economic opportunities in the County of Wellington.”

“The County of Wellington is dedicated to helping all of our residents find a comfortable and safe place to call home,” said Warden Joanne Ross-Zuj. “Ownership of Fergusson Place by the County ensures that long-term quality, affordable housing will be available to residents needing assistance. Through construction projects like these, the County continues to create jobs and stimulate our local economy.”

Fergusson Place, a 55-unit project located at 165 Gordon Street in Fergus, Wellington County, received more than $3.8 million through the Canada – Ontario Affordable Housing Program. The building is occupied by persons with special needs, singles and families. The federal and provincial funding is complemented by $5.7 million in municipal capital funding.

The Canada – Ontario Affordable Housing Program Agreement comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.

In 2008, the Government of Canada committed more than $1.9 billion over five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure. Combined for Ontario, this means a further $1.2 billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement. The federal and provincial governments are contributing equally to this overall investment.

In 2009, Ontario allocated a combined federal and provincial investment of $704 million for the renovation of social housing, and $540 million for the construction of new affordable housing. This investment is part of the Open Ontario plan, and will generate an estimated 23,000 jobs over the course of the program, while strengthening local economies across the province. To date, Ontario has approved more than $465 million for construction-ready projects, which will provide affordable housing for low-income families, senior citizens, and persons with disabilities, and $351.9 million for repairs benefiting some 148,000 social housing units.

The Government of Canada announced today that four housing co-operatives located in Louis-Saint-Laurent will receive more that $386,000 through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made today by the Honourable Josée Verner, Minister of Intergovernmental Affairs, President of the Queen’s Privy Council, Minister for la Francophonie, and Minister Responsible for the Québec Region, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). This contribution is part of the more than $22 million federal investment, announced earlier today by Minister Finley, for the renovation and retrofit of housing projects across Québec.

“The four renovation projects announced today in my riding are concrete examples of measures that our government has put in place to help ensure our economic recovery and long-term growth. It is through initiatives like these ones that our economic action plan is improving the quality of life of our citizens, creating jobs and stimulating the economy, right here in the Québec region,” said Minister Verner.

The Government of Canada, through Canada’s Economic Action Plan, announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.

The Government of Canada announced today that four housing co-operatives located in Roberval – Lac-Saint-Jean will receive more that $362,000 through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made today by the Honourable Denis Lebel, Minister of State (Economic Development Agency of Canada for the Regions of Quebec), on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). This contribution is part of the more than $22 million federal investment, announced earlier today by Minister Finley, for the renovation and retrofit of housing projects across Québec.

“Through Canada’s Economic Action Plan, our government is taking action to help ensure our economic recovery and create the conditions for long-term growth,” said Minister Lebel. “Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create local jobs.”

The Government of Canada, through Canada’s Economic Action Plan, announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.

Funding of $7.68 million for 64 new affordable housing rental units for seniors and persons with disabilities living on low income was announced today in Sudbury.

The Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Rick Bartolucci, Ontario’s Minister of Community Safety and Correctional Services and Member of Provincial Parliament for Sudbury, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing; along with John Rodriguez, Mayor of Greater Sudbury made the announcement.

“The Government of Canada is helping Canadians during these tough economic times and giving hope to seniors and persons with disabilities who need quality, affordable housing that meets their needs,” said Minister Finley. “This investment is possible through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession. For Ontario, this includes a $1.2 billion joint investment.”

“New housing initiatives like the one announced today add significant support to the Province`s efforts to reduce poverty and are welcomed here in Sudbury,” said Sudbury MPP Rick Bartolucci. “Ontario will continue to work with its federal and municipal partners to ensure new affordable housing units are built during the life of this program.”

“I am extremely appreciative of the support Greater Sudbury residents are receiving today from the Province of Ontario and the Government of Canada,” said Greater Sudbury Mayor John Rodriguez. “Finding a home in these new units will lift an enormous burden from the shoulders of someone who lives on a fixed income. We all deserve a safe place to call ‘home’, and I look forward to the day that the keys to these 64 apartments will turn in the locks.”

The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends. Canada’s Economic Action Plan provides $475 million, over two years, to build new rental housing for low-income seniors and persons with disabilities. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over the next five years, to improve and build new affordable housing and help the homeless.

Today’s announcement celebrates funding for 64 new affordable rental units at Copper Street Apartments, 192 Copper Street in Sudbury. The project is sponsored by Dalron Construction Limited.

Provincially, the labour force and employment are expected to rise moderately in 2010, while in Halifax, growth is expected to be more significant. Halifax will continue to see steady growth in the economy and this will translate into improving conditions in the local housing market.

The local economy in Halifax continues to benefit from positive migration patterns. With more people moving to Halifax than moving away, the labour force has been growing. Almost every month of 2009 saw greater numbers of people looking for work in Halifax and by the summer months there were more people looking for work than ever before. Fortunately, most of these job seekers found employment which resulted in a record level of employment in Halifax. Employment was up by three to four per cent in 2009 compared to 2008. Employment may ease off of record highs during certain months in the forecast period, however overall employment is expected to continue to show positive growth in 2010.

Employment is being bolstered by the construction industry and the public sector. Large construction projects and large military contracts have contributed to strength in these industries. The largest employment sector in Halifax is the services sector which has seen slow but steady growth of approximately three per cent so far in 2009. The opening of some new or trendy retail stores has contributed to the growth in this sector. Areas experiencing weakness are the finance, trade and primary goods sectors which are struggling due to global economic issues and reduced demand for exports. Wages are also expected to continue to move upwards. As of August 2009, seasonally adjusted average weekly earnings have risen by over six per cent compared to the 2008 average. Average earnings now exceed $39,000 per year compared to just under $37,000 in 2008.

Record employment levels and wages  will be supportive of housing activity in Halifax for the remainder of 2009 and 2010. Continued in-migration and near historic low interest rates will also contribute to increased housing demand in the Halifax Regional Municipality (HRM). In the near-term, some lingering effects of the weakened economy will keep demand subdued. In the medium- term, however, expect to see demand and activity begin to increase again in 2010.

The Bank of Canada cut the Target for the Overnight Rate in the early months of 2009. The rate was 1.50 per cent at the start of 2009 and has since fallen to 0.25 per cent. The Bank has committed to keeping this rate at 0.25 per cent through the middle of 2010 unless inflationary pressures warrant an increase.

Mortgage rates have fallen over the course of 2009, but are now expected to remain relatively stable for the rest of the year. Posted mortgage rates will gradually increase through 2010, but will do so at a slow pace. For 2010, the one-year posted mortgage rate will be in the 3.50-4.25 per cent range, while three and five-year posted mortgage rates are forecast to be in the 4.50-6.00 per cent range

MISSISSAUGA, August 10, 2009 — The Government of Canada and the Province of Ontario today announced that the Tannery Gate Tower Cooperative in Mississauga will receive support for repairs and renovations over the next two years.

The work will include lighting upgrades, boiler replacement, roof replacement, elevator replacement, garage ramp heating and other capital repairs.

The Tannery Gate Tower Cooperative will receive $227,540 — part of a national allocation of more than $30.1 million to Peel Region to repair and retrofit existing local social housing units.

The funding was made available as a result of a $1.2 billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement, which includes funding through Canada’s Economic Action Plan and by the Government of Ontario. The federal and provincial governments are contributing equally to this overall investment.

Bob Dechert, Member of Parliament for Mississauga – Erindale, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Bob Delaney, MPP for Mississauga – Streetsville, on behalf of the Honourable Jim Watson, Ontario Minister of Municipal Affairs and Housing, made the announcement today.

“Renovation and retrofit projects, like this one, will improve the quality of life for residents by keeping their homes safe and affordable,” said MP Dechert. “It is also a good way to get the local economy moving because it puts construction workers and trades people to work quickly and most of the materials and supplies are made in Canada.”

“These repairs are another step towards improving social housing in Peel Region,” said MPP Delaney. “This new funding will help ensure that people living in social housing have a safe and reliable place to live. Ontarians deserve nothing less.”

Ontario is moving quickly to invest a total of $704 million to repair eligible social housing across the province. In an effort to get shovels in the ground quickly, projects must be committed by the end of the fiscal years 2010 and 2011.

The funding will help improve the quality of life for residents living in social housing communities. Funding will be used to renovate and make energy-saving upgrades to existing social housing as well as to undertake accessibility modifications for the benefit of seniors and persons with disabilities. It will also create jobs and strengthen local economies. To find out more about affordable housing in Ontario, visit