Every Canadian deserves a safe and affordable place to call home. Thanks to investments made by the Government of Canada, residents of Peterborough will soon have access to more stable rental housing options.
Today, the Honourable Maryam Monsef, Member of Parliament for Peterborough–Kawartha and the Minister for Women and Gender Equality and Minister of Rural Economic Development, on behalf of the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced $14 million to help construct 46 residential units located at 3789 Water Street in Peterborough.
The second phase of the 3789 Water Street development by Greenleaf/Cor-Plan is receiving financing through the Government of Canada’s Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by CMHC that supports rental housing construction projects. The program encourages a stable supply of rental housing for middle-class families struggling in expensive housing markets.
The development includes a unique partnership with Kawartha Participations Project (KPP), which provides services, supports and housing to people with physical disabilities living in Peterborough, Kawartha Lakes, Haliburton and Northumberland.
Quotes:
“Every Canadian deserves a safe and affordable place to call home. Today’s announcement will help create more rental units for Canadians, especially our most vulnerable. Homes that are accessible and energy efficient represent our Government’s commitment to making sure the housing needs of local communities across this country, including right here in Peterborough, are met.”
“Housing is a major part of the solution to many of our community’s greatest challenges – mental health, addiction, inequity. Our Government understands this and is committed to doing our part to ensure all Canadians have a safe place to call home. We need innovative partners and solutions to address the housing needs in our community and projects like this one do just that.”
“Peterborough has a significant need for more safe and accessible housing. I would like to thank MP Monsef for her work to push this project forward, as well as CMHC and Kawartha Participation Projects for their commitment to providing secure, energy efficient units that meet the needs of our community.”
“We have utilized the best available construction materials and assemblies to achieve significant reductions in energy consumption and greenhouse gas emissions. As an added benefit, the same construction methods will meaningfully enhance personal comfort and soundproofing. Barrier-free access will be extended to the future commercial plaza, traffic signals with pedestrian crossing, and walkways and bike path all the way to Nassau Mills Road, assuming relevant agreements can be reached with the City.”
“This partnership is evidence of the ability of all sectors to come together and work toward the goal of providing appropriate quality housing. This project will not only provide suitable housing but will further Kawartha Participation Projects mission to increase the supply of accessible units and health care supports to people who would otherwise be housed in inappropriate housing or care facilities. People will receive the health care supports they need to live safely in their own homes in their own community.”
Quick facts:
- At least 5 units (10%) meet the municipal accessibility requirements, and will include units with universal and adaptable design.
- The building is designed to achieve energy-efficiency savings of 17% and reduction in greenhouse gas emissions of 21% relative to the 2015 National Energy Code of Buildings.
- Construction is expected to commence in early 2021, and substantial completion expected by October 2022.
- An RCFi loan of $7,600,000 was provided for the construction of the first phase of 3789 Water Street, which will comprise a four-storey building with 25 units.
- Canada's National Housing Strategy (NHS) is a 10-year, $70+ billion plan that will give more Canadians a place to call home—this includes more than $12 billion committed through the 2020 Fall Economic Statement.
- The RCFi, a National Housing Strategy (NHS) initiative delivered by CMHC, supports rental housing construction projects to encourage a stable supply of rental housing across the country for middle-class households struggling in expensive housing markets.
- New measures introduced in the Fall Economic Statement on November 30, 2020, build on the Government's previous investments to enhance housing affordability for those who need it most, including an expansion of the RCFi by $12 billion over 7 years, starting in 2021 – 22, to support the construction of an additional 28,500 rental units. This additional funding will now support the construction of 71,000 affordable rental units, bringing the program to a total of $25.75 billion in low-costloans.
Associated links:
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 all levels of Canadian government, consumers and the housing industry. For more information, follow us on Twitter, YouTube, LinkedIn, Instagram and Facebook.
To find out more about the National Housing Strategy, visit www.placetocallhome.ca.
Information on this release:
Mikaela Harrison
Office of the Minister of Families, Children and Social Development
mikaela.harrison@hrsdc-rhdcc.gc.ca
Angelina Ritacco
Canada Mortgage and Housing Corporation, Media Relations
416-218-3320
aritacco@cmhc-schl.gc.ca
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