B.C., Canada Partner to Renew Social Housing
VANCOUVER – The Governments of Canada and British Columbia announced today 101 renovation and retrofit projects totaling approximately $177 million, which is cost-shared under the Housing Renovation Partnership, a jointly funded program to renovate and retrofit social housing over the next two years creating an estimated 1,130 jobs.
Federal funding for this initiative was made available through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession and was matched by British Columbia through the Province’s capital infrastructure program.
Overall, the Economic Action Plan includes more than $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.
Across Canada, the federal and provincial governments are contributing equally to the investment of $850 million for the renovation and retrofit of existing social housing to help house seniors, single parent families, recent immigrants and Aboriginal households, under the amended Affordable Housing Program Agreements.
The majority of the Housing Renovation Partnership funding, approximately $164 million, will be directed toward repairs at 81 social housing developments. The remainder of the funding, approximately $13 million, is being allocated to renovations that are underway at provincially-owned Single Room Occupancy (SRO) hotels.
The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific 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), and Premier Gordon Campbell made the announcement today at Steeves Manor, a 196-unit housing development in Vancouver, the first of the 81 social housing developments to have renovations funded under this initiative.
“These renovation and retrofit projects will improve the quality of life for residents by keeping their homes safe and affordable,” said Minister Day. “It is also a good way to get the local economy moving because it puts construction workers and trades people to work quickly.
“Working in partnership with the Government of Canada, we are revitalizing social housing sites in need of repair and renovation in communities throughout the province, extending the life of these homes for British Columbians for years to come,” said Premier Campbell. “The Housing Renovation Partnership will also build on additional investments the Province announced to-date to stimulate the B.C. economy, which in total will create over 27,000 jobs in communities across the province.”
In B.C., this Housing Renovation Partnership is part of an overall $14-billion capital infrastructure program supported by the Province that will create up to 88,000 jobs and help build vital public infrastructure in every region of the province.
Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion over the next five years to improve and build new affordable housing and help the homeless.
Through Housing Matters BC, the Province is addressing a range of housing needs, from homelessness to affordable rental housing and homeownership. In 2009, the provincial housing budget is approximately $450 million, more than three times as much as in 2001. To find out more about affordable housing in B.C., visit www.bchousing.org.
More information on this and other measures in Canada’s Economic Action Plan can be found at www.actionplan.gc.ca. 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.ca/housingactionplan.
