Released on November 8, 2004
The federal and provincial governments announced details today of three new affordable housing projects that will see 121 new homes built and approximately $12 million invested in Regina.
The Centenary Affordable Housing Program (CAHP) will provide up to approximately $5.8 million in federal, provincial and municipal funding with the remainder of the financing and in-kind contributions coming from the partners and participants in each individual project.
Transcona Park Phase II is a 35-unit family affordable housing project in Regina's northwest scheduled for completion in spring 2005. It will include 20 two-bedroom, bi-level units and 15 two-bedroom townhouses. This project, built for low-to-moderate-income families, is owned by Transcona Park Housing Association (TPHA), a non-profit organization with membership from the surrounding community including the local churches. The association also owns an adjacent 46-unit family housing project and a 50-space day care.
Total cost for the Transcona project is approximately $3.1 million, of which approximately $1.9 million was provided by the federal, provincial and municipal governments under CAHP. The remainder of the funding and the land was contributed by TPHA and its partners.
Highland Manor is a three-storey seniors' life lease apartment complex in Regina's northeast tentatively scheduled to be completed by spring 2005. It includes nine one-bedroom suites and 41 two-bedroom suites for a total of 50 households. All suites will be built to ensure ease of mobility and two of the two-bedroom suites are fully-accessible units. The building features an elevator, as well as recreation and kitchen facilities.
This project is aimed at low-to-moderate-income mature residents with housing units allocated with priority for lower-income applicants. Highland Manor will accommodate the delivery of services included under the Saskatchewan Assisted Living Services (SALS) program. Meals, housekeeping, laundry, personal security systems and recreation services may be provided on a fee-for-service basis.
Total cost for this project is estimated at $5.1 million of which approximately $2 million is provided under CAHP funding through a federal, provincial and municipal partnership. Highland Manor residents will provide the remaining funding in the form of life lease deposits.
Wessex Place Housing project will feature up to 36 affordable family condominiums in Regina's northeast, scheduled for completion by spring 2005. The project will feature two and three-bedroom, two-storey, semi-detached homes. Wessex Place is being developed by the Regina Affordable New Home Foundation, in conjunction with North Ridge Developments.
Under CAHP, funding is based on a forgivable loan of between $3,500 and $19,500 depending on the gross incomes of the low-to-moderate-income families applying for the loans. For Wessex Place, the City of Regina is exempting the majority of property taxes for the first five years. The potential federal, provincial and municipal investment is approximately $632,000.
"Today's announcement is about helping more Regina residents live in safe, affordable homes," noted the Honourable Ralph Goodale, Minister of Finance, on behalf of the honourable Joseph Fontana, Minister of Labour and Housing. "These affordable housing projects mark a new start for families and seniors and contribute to the success and sustainability of our cities as well as the well-being of its residents."
"These 121 new affordable housing opportunities for families and for seniors are made possible by the provincial HomeFirst housing strategy," Community Resources and Employment Minister Joanne Crofford said. "Good quality homes are a source of pride and strengthen opportunity for involvement in community life. Home owners are able to build assets which become long-term support to family well-being."
"Building a great and affordable city happens neighbourhood by neighbourhood, community by community, brick by brick," Regina Mayor Pat Fiacco said. "These three projects are providing valuable, quality homeownership and rental opportunities throughout Regina for our young families and our mature residents – this is a key building block to the sustainable success of our city."
CAHP is funded under the Canada-Saskatchewan Affordable Housing Agreement. It provides $22.9 million in federal funding for affordable housing, matched by Saskatchewan, municipalities and other parties. With these matching contributions, a total of $45.9 million over five years will be available for affordable housing.
-30-
For More Information, Contact:
Terry Lazarou
Community Resources and Employment
Regina
Phone: (306) 787-8689 | Jason Cobb
Canada Mortgage and Housing Corporation
Calgary
Phone: (403) 515-2903 |
Bob Bjerke
City of Regina
Regina
Phone: (306) 777-7533 |
