Released on September 24, 2003
The federal and provincial governments today announced funding details on the third of four projects approved to date in Saskatoon under the Canada-Saskatchewan Affordable Housing Agreement.The project announced today will be managed by Quint Development Corporation and is worth $1.04 million. Quint will receive $946,000 in federal-provincial-municipal funding under the Centenary Affordable Housing Program (CAHP) and the organization has secured a $100,000 mortgage to complete project financing.
"Integrating community services like child care and a common room, is typical of the community approach Quint Developments is taking," said the Honourable Ralph Goodale, Minister of Public Works and Government Services on behalf of the Honourable Steven Mahoney, Secretary of State responsible for Canada Mortgage and Housing Corporation (CMHC). "This project is exactly what we need to ensure lower income residents of Saskatoon have access to quality affordable housing."
"This project provides an example of governments and communities coming together towards a wide open future with quality affordable housing and a sense of community for low-income families in Saskatoon," Saskatchewan Community Resources and Employment Minister Glenn Hagel said.
"Good housing is a fundamental necessity to the well-being of individuals, families and communities," City of Saskatoon Mayor James Maddin said. "This housing development will provide a stable place for Saskatoon families to build an active and fulfilling life in our city."
"This project is part of a growing awareness that governments and local communities can work together to create long-term, meaningful improvements in our neighbourhoods," Quint Development Corporation Board of Directors Chair Jacqui Barclay said. "We are pleased to be a part of this development and we hope to create more housing like this in 2004."
The Quint renovation project will create 22 residential units for families by renovating an existing apartment building located at 136 Avenue U South in Saskatoon. The project will provide a community-like setting for families and includes plans for on-site child care, a community garden and a common room.
Quint's goal is to create affordable housing with multiple benefits in mind: social, economic and environmental. With this initiative, the organization hopes to create a place where tenants have good quality housing and also opportunities to become more involved with their neighbours and their community. The upgrades to the building make it a real benefit to the neighbourhood.
Funding from the CAHP includes $473,000 from the Government of Canada, $378,400 from the province, and $94,600 from the City of Saskatoon. The City is also providing an additional $10,000 through its Enterprise Zone Rebate program to encourage development in core neighbourhoods.
CAHP is funded under the Canada-Saskatchewan Affordable Housing Program Agreement. It provides $22.93 million in federal funding for affordable housing, matched by Saskatchewan and other parties including municipalities. With these matching contributions, a total of $45.9 million, over five years, will be available to develop up to 1,500 new units of affordable housing in Saskatchewan.
Two other projects, managed by Abbeyfield Homes and the Central Urban Metis Federation Inc. (CUMFI), were announced in June under this component of the Affordable Housing Agreement. Details on the remaining project will be announced in the future. A total of $3.2 million will be allocated to the four projects, worth $8.2 million.
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For More Information, Contact:
| Steven Bobiash Community Resources and Employment Regina Phone: (306)787-8689 | Sophie Dupuis CMHC Calgary Phone: (403)515-2986 |
Lorne A. Sully Manager, City Planning Saskatoon Phone: (306)975-2686 |