Posts Tagged ‘housing’

Posted by Moishe Alexander

The seasonally adjusted annual rate1 of housing starts was 197,300 units in March 2010, according to Canada Mortgage and Housing Corporation (CMHC).

Seasonally adjusted annual rate estimates of housing start activity were also revised up for January and February2. This resulted in month-over-month gains of 7.5 per cent in January (189,000 units), 6 per cent in February (200,400 units), and a slight decrease of 1.5 per cent in March.

“The moderation in March housing starts was due to a decrease in the volatile multiple starts segment. Helping to offset this was an increase in singles starts as well as more activity in rural areas,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre.

The seasonally adjusted annual rate of urban starts decreased by 4.2 per cent to 175,200 units in March. Urban multiple starts decreased by 15.2 per cent to 77,500 units while single urban starts increased by 6.9 per cent to 97,700 units.

March’s seasonally adjusted annual rate of urban starts increased by 13.5 per cent in Quebec and by 7.3 per cent in the Prairie region, but decreased by 16.3 per cent in British Columbia, by 15.5 per cent in Ontario, and by 8 per cent in Atlantic Canada.

Rural starts were estimated at a seasonally adjusted annual rate of 22,100 units in March3.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

Posted by Moishe Alexander

The Government of Canada and the Province of Saskatchewan today announced $23 million in joint funding for improvements to over 219 projects in 84 communities in central and northern locations of Saskatchewan.

The funding was made available through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession. 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. The federal and provincial governments are contributing equally to this overall investment of $132 million under the amended Canada – Saskatchewan Affordable Housing Program Agreement.

The Government of Canada wants to improve the quality of existing social housing for low-income seniors, single parent families, recent immigrants and Aboriginal households. Canada’s Economic Action Plan provides $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing.

The announcement took place today at Luther Tower, a 22-storey building consisting of 197 affordable units for low and moderate income seniors. A total of $441,000 was provided by the Government of Canada and Saskatchewan to complete window repairs to the units. The approved work for the 219 projects announced today will be completed through 2010 – 2011.

Brad Trost, Member of Parliament for Saskatoon – Humboldt, 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 the Honourable Don Morgan, Minister of Justice and Attorney General, and MLA for Saskatoon – South East, on behalf of the Honourable Donna Harpauer, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation, made the announcement today.

“Through Year 2 of Canada’s Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most,” said MP Trost. “Projects like these are especially valuable right now, because they put construction workers and tradespeople to work quickly, while at the same time providing needed improvements to housing throughout the country.”

“Our government is actively working with the federal government, and other community partners, to ensure that safe, affordable and well-maintained housing will be available to meet the current and future needs of Saskatchewan citizens,” Minister Morgan said. “Luther Tower is an example of the types of renovations that are being undertaken to make a real and lasting difference in communities across Saskatchewan.”

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.

The amendment to the Canada – Saskatchewan Affordable Housing Program Agreement, which included funding under Canada’s Economic Action Plan, signed in May 2009, brought federal housing support of $74 million to the province. The Government of Saskatchewan will match that commitment for a total of $148 million to assist those in housing need and, in collaboration with other levels of government and community partners, to make various types of affordable housing programs possible. In Saskatchewan, federal-provincial housing programs are delivered through the Saskatchewan Housing Corporation.

Posted by Moishe Alexander

The Government of Canada announced today that 39 co-operative housing projects located in British Columbia will receive more than $9.4 million, through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made at the Waterside Housing Co-operative by the Honourable Gary Lunn, Minister of State for Sport and Member of Parliament for  Saanich – Gulf Island, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

“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 of State for Sport, Gary Lunn. “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.

The co-operative housing projects that will receive contributions from the Government of Canada being announced today are listed in the attached backgrounder.

“We congratulate and thank the federal government, Minister of State for Sport, Gary Lunn, and CMHC for making a sound investment to help ensure that this affordable community is preserved as a legacy for the long-term benefit of its residents,” said Ken Elliott, President of the Co-operative Housing Federation of Canada. “Today’s announcement is an excellent example of stimulus funding that works towards preserving jobs, assisting the local economy, and protecting valuable affordable housing assets for Canadians.”

“The members of the Waterside Housing Co-operative are extremely grateful for CMHC’s approval of our grant application which went to installing new countertops and cupboards in 27 units’ kitchens and bathrooms,” said Susan Barron on behalf of the Waterside Housing Co-operative. “The renovations have made members feel a strong sense of pride for their homes and we would like to thank the Canadian Government and CMHC for making it possible.”