Posts Tagged ‘opening’

Posted by Moishe Alexander

The Government of Canada, the Government of Ontario, and the City of North Bay today celebrated an official opening and ground breaking of two new affordable rental projects. The projects are supported by $380,000 in funding through the Canada – Ontario Affordable Housing Program.

Cheryl Gallant, Member of Parliament for Renfrew – Nipissing – Pembroke, 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), the Honourable Monique Smith, Ontario’s Minister of Intergovernmental Affairs, and Member of Provincial Parliament for Nipissing, on behalf of Jim Bradley, Ontario’s Minister of Municipal Affairs and Housing; Victor Fedeli, Mayor of the City of North Bay; and George Jupp, Chair of the District of Nipissing Social Services Administrative Board (DNSSAB) made the announcement.

“Our government is committed to giving a hand up to Canadians who need some help,” said MP Cheryl Gallant. “In these tough economic times, Canada’s Economic Action Plan is providing Canadians with the opportunities, skills, jobs and help they need so they can contribute and strengthen our communities.”

“Ontario is committed to helping people who live on lower or fixed incomes stay in their home communities,” said Nipissing MPP Monique Smith. “These 16 new affordable rental units are going to make a positive difference to the families living here, and an excellent addition to the community.”

Today’s announcement celebrates the official opening of The Pines at 2469 Trout Lake Road, and the groundbreaking of Cam’s Place at 240 Kingsway Avenue East. The Pines is a 12-unit project sponsored by the Girard-Johnson group, and is occupied    by families living on low to moderate incomes. Cam’s Place is a four-unit project for persons with disabilities, and is sponsored by Lorraine Venasse, Sonia Vigna, and Lynda Ceppetelli.

“We know that we need 1,000 affordable homes in the area, and the opening of the new facility on Trout Lake Road is part of 117 units we committed to last year.  This is the only example in Ontario where the feds, the province, and the municipalities came together to make it happen”, said North Bay Mayor Victor Fedeli.  He added, “The Girard units are a wonderful addition to the city – they are the new face of Affordable housing.” (TBC)

“This is our second successful affordable housing project developed through a private-public partnership with Mr. Girard. The DNSSAB is delighted to be at the table and contributing to increasing the supply of affordable housing in North Bay,” said Chair George Jupp.  “The need for supportive housing in our community has never been greater. Cam’s Place is a unique homeownership model that will ensure that these boys will always have a place to call home that is safe and affordable.” (TBC)

“I would like to thank the Federal and Provincial governments and the City of North Bay for their incentive on this project. Without financial help this would not have been possible. I hope that the Canada Ontario Affordable Housing program will continue as North Bay is still in need of many more units like these,” said Ron Girard, proponent for The Pines.

“This home will provide our family with the peace of mind that Bryan will have a place to live in a neighbourhood within the community and with his friends in a family setting,” said Cam Ceppetelli, one of the sponsors of the project.

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 the next 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 in new and existing social housing and lending of up to another $2 billion 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.

Posted by Moishe Alexander

The lives of 18 individuals changed for the better today with the official opening of the Stella Burry Community Services’ new and much-anticipated housing project in Rawlins Cross.

The Honourable Peter MacKay, Minister of National Defence and Minister for the Atlantic Gateway, 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), made the announcement today.

“The Government of Canada is proud to invest in initiatives that directly help people in our community access safe and suitable housing,” said Minister MacKay. “This project will provide safe and supportive housing and help individuals build a stronger future for themselves.”

The project has received federal funding from various initiatives to off-set construction costs. Funding by the Government of Canada, through CMHC, includes $905,000 under the Canada – Newfoundland and Labrador Affordable Housing Initiative and $216,000 through the Residential Rehabilitation Assistance Program. Stella Burry Community Services also received $348,900 from the Government of Canada homelessness funding and $20,000 in Seed Funding from CMHC during the initial planning stages.

Also, the General Council of The United Church of Canada contributed $250,000 toward the completion of the project. Incorporated under The United Church of Canada, Stella Burry Community Services provides programs in the community that reflect the social justice philosophies of the United Church.

“This is such an exciting day for us,” said Jocelyn Greene, Executive Director of Stella Burry Community Services. “From the beginning, the community, the city, our staff, our board members, as well as our federal and provincial partners have all been tremendously supportive of the entire project. I know it is because people relate to the work that we, as an organization, do in this community. We all firmly believe that everyone deserves an affordable and safe place to call home; that everyone deserves opportunity and supports to be the best person that they can be. A project such as this would not be possible without that strong, unified support, for which we are incredibly grateful and blessed.”

“We are extremely proud of the work that is being carried out by Stella Burry Community Services, and are delighted to contribute to this wonderful project in St. John’s,” said Mardi Tindal, Moderator of The United Church of Canada. “The availability of affordable housing has been a persistent concern of The United Church of Canada and our record of advocacy on issues relating to housing and homelessness is well known. The leadership shown by Stella Burry Community Services to increase the availability of housing for low income individuals in the St. John’s region is to be commended as we celebrate the opening of this beautiful building today,” she added.

Last fall, the Government of Canada committed more than $1.9 billion over the next 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 in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.

Posted by Moishe Alexander

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