The City of Summerside has been approved for a low-cost loan of $8 million to develop an electrical generating wind farm. This includes the installation of four wind turbines, the interconnection of the electrical grid and the construction of related transmission infrastructure in order to provide the residents of Summerside with green power and more stable electricity costs.

The Town of Stratford has been approved for a low-cost loan of more than $200,000 to improve their sewer and water systems. This includes installing new sewer mains for approximately 50 properties and new water mains for approximately 22 properties along Georgetown Road.

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said Minister Shea. “This program is opening the door for municipalities of all sizes to meet their housing-related infrastructure needs. Canada’s Economic Action Plan is creating jobs and stimulating the economy in the town of Stratford, and right here in Summerside.”

Canada’s Economic Action Plan provides up to $2 billion in direct low-cost loans to municipalities, over two years, for housing-related infrastructure projects through CMHC’s Municipal Infrastructure Lending Program (MILP). Municipal infrastructure loans are available to any municipality in Canada and will provide a new source of funds for municipalities to invest in housing-related infrastructure projects. These low-cost loans can also be used by municipalities to fund their contribution for cost-shared federal infrastructure programming.

“This low interest loan from the CMHC’s Municipal Infrastructure Lending Program allows the City to have significant savings with the borrowing of the loan,” said Summerside Mayor Basil Stewart. “Producing wind energy was made a priority by our province and City, and having the opportunity to borrow this money through Canada’s Economic Action Plan has allowed the City to decrease the cost of borrowing.”

“We are pleased to be able to obtain a loan for our Georgetown Road infrastructure project from CMHC at a rate that is significantly lower than what we can obtain from the market,” said Stratford Mayor Kevin Jenkins. “The CMHC loan, along with the Building Canada infrastructure funding and the New Deal Funding, allowed the Town to provide much-needed sewer and water services to residents of the area, along with greatly improving safety via the addition of sidewalks and bicycle lanes. This project is a key step in accomplishing our goal of linked systems of sidewalks and bicycle lanes, encouraging our residents to use alternative transportation whenever possible and stay physically active.”

Eligible projects include infrastructure related to housing services such as water, power generation and waste services, as well as local transportation infrastructure within and into residential areas, such as roads, sidewalks, lighting and green space.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

Posted by Moishe Alexander.

“Housing starts improved in both the singles and multiples segments in January,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “These increases are similar to the ones that occurred in December.”

The seasonally adjusted annual rate of urban starts increased by 4.4 per cent to 165,200 units in January. Urban multiple starts increased by 5.7 per cent to 76,300 units while single urban starts increased by 3.3 per cent to 88,900 units.

January’s seasonally adjusted annual rate of urban starts increased by 19.8 per cent in British Columbia, by 7.3 per cent in Quebec, by 2.3 per cent in Atlantic Canada, and by 1.5 per cent in the Ontario. In the Prairie region, the seasonally adjusted annual rate of urban starts decreased by 4.8 per cent.

Rural starts were estimated at a seasonally adjusted annual rate of 21,100 units in January².

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

Posted by Moishe Alexander.

The announcement was made by John Cummins, Member of Parliament for Delta-Richmond, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

“Through Canada’s Economic Action Plan, our government is taking concrete action to help ensure our economic recovery and create the conditions for long-term growth,” said MP John Cummins. “Funding renovation and retrofit projects like this one will not only improve the quality of life of its residents by keeping their homes safe and affordable for years to come, but also help stimulate the local economy and create jobs.”

Through Canada’s Economic Action Plan, the Government of Canada announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy-efficiency upgrades or conversions, and modifications in support of persons with disabilities.

As of February 1, 2010, CMHC is accepting applications from eligible project sponsors for the remaining $75 million funding for year two. Sponsor groups can apply online or through the mail. Eligible repairs include general improvements, energy-efficiency upgrades or conversions, and modifications in support of persons with disabilities.

The housing co-operatives that will receive contributions from the Government of Canada being announced today are:

“We are very excited that the Mariner Cove has been granted federal funding through Canada’s Economic Action Plan,” said Bob Christofoli on behalf of the Mariner Cove. ”The planned renovations will not only make our complex more energy efficient, but will also provide an adequate environment for the future of our complex.”

More information on this and other measures in Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: www.actionplan.gc.ca.

Posted by Moishe Alexander.

The Government of Canada announced today an investment of $3.2 million, as part of Canada’s Economic Action Plan, to improve housing conditions in First Nation communities across New Brunswick.

Tilly O’Neill-Gordon, Member of Parliament for Miramichi, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), made the announcement along with members of the Elsipogtog First Nation.

“Our Government‘s Economic Action Plan is delivering support for improvements in housing conditions for members who live in the First Nation communities in New Brunswick and we are also stimulating the local economy by creating jobs,” said MP O’Neill-Gordon.

Through Canada’s Economic Action Plan, the Government of Canada has committed $400 million over the next two years to help First Nation communities build needed new housing, repair and remediate existing non-profit housing for their members, and complement housing programs offered by CMHC. This investment will also provide an economic stimulus for many First Nations and surrounding areas by creating jobs.

The application calls for the new funding initiatives under Canada’s Economic Action Plan were very successful and generated a large number of applications. As a result, CMHC will be fully allocating all the available funding for this fiscal year.

Through Canada’s Economic Action Plan, $3.2 million in federal investments will be made available to 12 First Nations communities in New Brunswick to address the immediate housing needs.

CMHC will allocate $2.2 million to retrofit 222 social housing units on-reserve in New Brunswick as well as $991,000 for subsidy associated with nine new housing units.  First Nation communities across the province receiving funding include: Burnt Church, Eel Ground, Eel River Bar, Elsipogtog, Fort Folly, Indian Island, Kingsclear, Madawaska Maliseet, Metepenagiag, St. Mary’s, Tobique and Woodstock.

“It is with great pride and excitement that the federal initiative stimulus package along with CMHC, are working with the Elsipogtog First Nation. By strengthening this working relationship with the current government, all parties are listening to the overwhelming basic needs of Elsipogtog people: adequate housing & shelter,” said Chief Jesse J Simon, Elsipogtog First Nation. “For far too long, my people have suffered when we work in isolation. Now comes the time to show the province of New Brunswick, other First Nations, and the rest of the country that great things can be accomplished when we set aside our political differences in the best interest of humanity. I hope that this is a first step towards overcoming immense challenges for all First Nation communities. Hand in hand, side by side, back to back; we are all much stronger now!”

In 2009, new home starts will reach 350 new homes from 428 starts recorded in 2008, contracting by 18 per cent. Single-detached starts are forecast to decline by 20 per cent, while row homes and apartments will decrease by 14 per cent. The downward momentum in the economy has lessened new construction demand. Also, slower population growth and less spill-over demand from the resale market have contributed to the slow down in demand for new homes. However in 2010, this trend will change due to the gradually improving provincial economy and declining new home inventories. The number of starts will increase by six per cent to 370 units. Demand for affordable housing is increasing. A number of social housing projects are planned or underway to accommodate the increased demand for this type of housing.

The new home price will average 343,000 in 2009 and 355,000 in 2010. New single-detached prices will de- crease by 0.6 per cent in 2009 as the prices adjust to slower demand, consumer cautiousness and less con- struction of high-value homes. As the economy recovers in 2010, new home prices will increase by 3.5 per cent.

In the longer term, new home construction is expected to increase. Migration will be a dominant element in increasing demand for new homes. With land constraints raising prices in other areas and improved transportation and infrastructure projects making Peterborough more accessible to Toronto, it’s expected to see more in-migration to Peterborough. Aging baby boomers will increase their movement to Peterborough, seeing it as an attractive place for retirement. Furthermore, improved economic conditions and job prospects in the region in the next several years will reduce out-migration.

As home prices and mortgage carrying costs rise, the demand for the more expensive homes will be tempered. More interest will be seen for higher-density forms of housing in coming years. Even though demand for single-detached homes will slow, this type of housing will remain the product of choice for homebuyers. Single-detached homes demand in Peterborough is supported by mature migrants mainly coming from Toronto, availability of land and the price differential comparing to other centres in Ontario.

Demand for resale homes is expected to moderate by four per cent in 2009 to 2400 from 2506 recorded in 2008. In 2010, we will see the same trend. Sales will register 2300 sold homes, a decrease of four per cent from 2009. Low carrying costs, a relatively low unemployment rate and affordable prices will help to limit the decline in demand in 2009. Some purchases, initially planned for 2010, will take place in 2009 as people buy before anticipated mortgage rate increases raising sales in 2009 and lowering them in 2010.

In 2009, sellers have been hesitating about entering the housing market. As a result, new listings will decrease by 13 per cent in 2009. Moreover, the fall of new listings will outpace the decline of sales. In 2010, more new listings will flow into the market as sellers respond to rising prices.

The combination of declining new listings and improving sales by mid- 2009 meant that the sales-to-new- listings ratio, a barometer of future housing price growth and a measure of market conditions, moved up. Peterborough’s resale housing market has been balanced through much of 2009, but moved into sellers’ territory during some months. In 2010, the market is expected to be in balance for most of the year. A balanced market is characterized by price growth around the rate of inflation. Peterborough prices will increase by about four per cent in 2010, faster than in 2009. Resale prices are expected to increase by 1.7 per cent this year to $234,500 from $230,656 registered last year.

After declining significantly at the beginning of the year, the Montréal census metropolitan area (CMA) housing market has been showing signs of picking up for the past few months. This increase in activity on the housing market is coinciding with an improvement in economic conditions, as several indicators are suggesting that economic growth will soon resume. In this environment, the housing market will be relatively stable in 2010, for both residential construction and resale activity.

Economic conditions have substantially improved since the beginning of the year, as the financial crisis is largely over. Governments’ expansionary monetary and fiscal policies allowed for the massive injection of capital that stabilized the financial markets and revitalized the economies.

In Quebec, the economy is showing signs of an imminent recovery, and GDP is expected to grow in 2010. Employment, which tends to start growing again with some lag behind the economic cycle, should pick up slowly during 2010. The number of jobs should fall by 1.3 per cent this year, which should drive up the unemployment rate to 9.5 per cent in the Montréal CMA. After having increased rapidly since the beginning of the year, the unemployment rate has been rising more slowly in the last few months, as employment has stabilized to a certain extent. Even if the worst of the job losses is now over, the labour market will remain anemic, with a small gain in jobs (+0.4 per cent) next year, which will limit income growth and housing demand. In 2010, the unemployment rate should reach 9.6 per cent.

During the period from September 2008 to September 2009, employment in the Montréal CMA declined by 1.1 per cent from the previous twelve months, as around 21,300 jobs were eliminated. The losses were concentrated in full-time jobs ( 1.3 per cent), as part-time jobs rose slightly (+0.1 per cent). As well, the job cuts particularly affected young people aged from 15 to 24 years ( 3.5 per cent) and also people aged from 25 to 44 years ( 1.3 per cent).

The financial sector has been the hardest hit by the job losses for the past year. In the midst of the crisis that shook the financial markets, the companies in this sector cut their workforces by more than 10 per cent in one year. In all, about 15,000 jobs were eliminated in this sector. The improvement of the situation on the financial markets now seems to have stemmed the hemorrhage of jobs in this sector.

A more significant sector in terms of number of jobs, trade–and more particularly retail trade–also registered considerable job losses in the last twelve months ( 7 per cent). In fact, more than 16,000 jobs were eliminated in this sector, but the situation should stabilize over the coming quarters, as economic conditions improve.

After having declined for four consecutive years, employment in the manufacturing sector seems to have stabilized in recent quarters but, with the strong Canadian dollar, the recovery in this sector remains uncertain. The slowdown of the Montréal housing market at the beginning of 2009 sharply affected employment in the construction sector, which had posted two years of solid growth. The massive investments in infrastructure will support employment in this sector in the Montréal area in 2010.

The Honourable Vic Toews, President of the Treasury Board, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada, and Minister Responsible for Canada Mortgage and Housing Corporation, along with the Honourable Gord Mackintosh, Manitoba Minister of Family Services and Housing, broke ground today on a new complex for seniors housing in Grunthal.

Funding in the amount of $2.7 million has been made available for the initiative through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession. The federal and provincial governments are contributing equally to this investment through the amended Canada – Manitoba Affordable Housing Program Agreement.

Canada’s Economic Action Plan provides $400 million over two years, to build new rental housing for low-income seniors. 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.

“The Government of Canada is helping Canadian seniors during these tough economic times,” said Minister Toews. “Here in Grunthal, this achievement gives hope to residents who need quality, affordable housing that meets their needs.”

“It’s important for seniors to have the option to age in their community, and through programs like Supportive housing, they are able to remain closer to home even longer,” said Minister Mackintosh. “This is an important project for the community and it’s great to work with such committed partners who will make sure it’s a success.”

The project, led by Menno Home for the Aged, will have 42 housing units, including 12 supportive housing units and 30 one-bedroom assisted living units for low-to-moderate income seniors. Total cost of the project is estimated to be $4.5 million.

“This is one of the biggest projects undertaken in Grunthal,” said Albert Driedger, Board Chair for Menno Home. “There has been tremendous support from the community, individuals and churches, which is a big help to our seniors.”

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.

The Government of Canada, the Government of Ontario, and the City of London today celebrated the opening 52 new affordable rental units. The project is supported by more than $3.6 million in funding under the Canada – Ontario Affordable Housing Program.

Ed Holder Member of Parliament for London West, 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); the Honourable Deb Matthews, Member of Provincial Parliament for London North Centre and Minister of Children and Youth Services, on behalf of the Honourable Jim Watson, Minister of Municipal Affairs and Housing; Anne Marie DeCicco-Best, Mayor, City of London; and Brian Loubert, Vice-President of Homes Unlimited (London) attended the event.

“The Government of Canada is committed to making affordable housing available in London and across Canada for those who need it most,” said MP Ed Holder. “These new apartments provide more rental options for individuals and families in need of suitable, affordable housing. This is critical to the economic and social well-being of our London community.”

“Housing is simply essential to the stability of Ontario’s families,” MPP Matthews. “The projects we’re celebrating today will make a positive and significant difference in the lives of many.”

Today’s announcement recognized the official opening of Nelson Place located at 570 Nelson Street. The $7.6 million project will be occupied by individuals and families living on low income.

The federal and provincial allocations to the project were complemented by almost $1.3 million in municipal financial incentives.

“This opening is very important to all Londoners, as we continue to battle homelessness in our community and beyond,” said Mayor DeCicco-Best. “By partnering with other levels of government through the Canada – Ontario Affordable Housing Program, we move closer to realizing a national solution to the critical need for more housing across the country.”

”Nelson Place is Homes Unlimited’s seventh housing project and will provide a new home for 52 tenants in need of affordable rental housing,” said Greg Playford, President of Homes Unlimited (London). “We are pleased that the federal and provincial governments, along the City London, continue to provide the financial support that allows us to address the need for affordable housing in our community.”

The Canada – Ontario Affordable Housing Program Agreement, signed in 2005, comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.

Last fall, the Government of Canada committed more than $1.9 billion over the next five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure. Combined for Ontario, this means a further $1.2-billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement. The federal and provincial governments are contributing equally to this overall investment.

A new rental housing project for low to moderate-income seniors officially opened today in Pinehouse, thanks to a $300,000 funding commitment from the federal and provincial governments.  The project is owned and operated by the Village of Pinehouse, and will increase the availability of affordable and stable seniors’ housing in the community.

“The Government of Canada is committed to making affordable housing available in Saskatchewan and across Canada for those who need it most,” said Rob Clarke, Member of Parliament for Desnethé – Missinippi – Churchill River, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). “This project will help seniors’ access safe and suitable housing, and build a stronger future for themselves.”

“Our government is committed to working with our partners to ensure that Saskatchewan seniors have a safe, affordable place to call home,” said the Honourable Bill Hutchinson, provincial Minister of First Nations and Métis Relations, on behalf of Social Services Minister and Minister Responsible for Saskatchewan Housing Corporation Donna Harpauer. “This project fills a clear need in Pinehouse and helps further our goal to build brighter futures for all Saskatchewan citizens.”

The project, which was undertaken by the Northern Village of Pinehouse, consists of four two-bedroom single detached units. It includes “green” features such as the use of renewable energy for heating and increased insulation. The project also provided an opportunity for some local individuals to obtain trades training and work experience.

The federal and provincial government provided a total of $300,000 in funding assistance toward the total cost of $425,000. The Province, through Saskatchewan Housing Corporation, contributed its funding through the Affordable Housing Trust.

In Saskatchewan, the amendment to the Canada-Saskatchewan Affordable Housing Program Agreement, which included funding under Canada’s Economic Action Plan, signed in May 2009, brought federal housing support of $74 million to Saskatchewan. The Government of Saskatchewan will match that commitment for a total of $148 million to go to the renovation of existing social housing and development of new affordable housing in Saskatchewan by 2011.

Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.