New Affordable Modular Housing Units Installed in Saskatoon

Construction/Building — November 16, 2012

SASKATOON, SASKATCHEWAN--(Marketwire - Nov. 16, 2012) - The Government of Canada and the Province of Saskatchewan, along with Innovative Residential Inc., today held a crane placing for the first modular unit placed on its foundation in the Blairmore neighbourhood of Saskatoon. Hartford Heights, located at 118 Shillington Crescent will assist families in housing need with 40 modular, stacked, two-and three-bedroom townhouse units.

Kelly Block, Member of Parliament for Saskatoon-Rosetown-Biggar, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) along with the Honourable June Draude, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation, and His Worship Donald Atchison, Mayor of the City of Saskatoon, made the announcement today.

"Our Government recognizes that all Canadians need a stable, safe and affordable place to call home," said MP Block. "We are committed to helping deliver affordable housing solutions in partnership with the provinces and territories, along with opportunities for economic growth".

"The Government of Saskatchewan continues to work with the federal government and stakeholders across the province to support the Saskatchewan Housing Strategy and the recently released Saskatchewan Plan for Growth," said Minister Draude. "Addressing housing challenges is everyone's responsibility, and this new development will be a concrete example of partnerships in action. Most importantly, more families will improve their quality of life and be able to share in the benefits of our growing province."

The total cost of the development is approximately $7.2 million. The federal and provincial governments are contributing equally to this investment of $2 million under the Investment in Affordable Housing 2011-2014 Agreement towards 20 affordable units out of the 40-unit project. The City of Saskatoon is providing $360,000 for the 20 affordable units, with the funding balance being provided by Innovative Residential Inc. The 20 market units in Hartford Heights also received $94,000 in funding from the Province's Rental Construction Incentive. This funding matches the City of Saskatoon's Rental Construction Land Rebate Program.

"Safe attainable housing is a key foundation for the growth of our city and well-being of our citizens", said Saskatoon Mayor Donald Atchison. "The City's Housing Business Plan identifies a need for additional rental units for single parent families, working families, Aboriginal people and recent immigrants. These affordable units will help to fulfill that need and we are pleased to participate in this project."

"We're proud to partner with the Government of Canada, Province of Saskatchewan and City of Saskatoon to help families in need of affordable housing," said Tyler Mathies, Co-Founder and CEO of Innovative Residential Inc. "The Saskatchewan Housing Strategy has made it possible for us to help address housing challenges in Saskatoon with the addition of these new affordable rental units. Support for affordable housing in Saskatchewan has led to many successful public-private housing partnerships, and is driving innovation and housing solutions across the province."

The federal and provincial funding comes as a result of the recently announced $55 million Investment in Affordable Housing 2011-2014 Agreement between the Governments of Canada and Saskatchewan. Under the agreement, the Province of Saskatchewan will use the funds to create new and renovate existing affordable housing for households in need.

The Government of Canada, through CMHC, will invest approximately $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of almost 605,000 households living in existing social housing. In Saskatchewan, this represents some 29,900 households. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people.

The Government of Saskatchewan has committed $344 million to create more than 12,600 new housing units across the province by 2016.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.gc.ca.

Contact Information

Young Ong
Communications
CMHC
403-515-2962
yong@cmhc.ca

Marian Ngo
Office of Minister Finley
819-994-2482

Linda Saliken
Communications, Saskatchewan Ministry of Social Services
306-787-0246
linda.saliken@gov.sk.ca

Alan Wallace
Manager, Planning & Development
City of Saskatoon
306-975-2755