Seniors in Saanich now have increased access to affordable housing at Carey Place, a new building providing 55 units of affordable seniors' housing funded by the governments of Canada and British Columbia along with community partners.

"Through Economic Action Plan 2012, our Government is taking concrete action to help ensure economic recovery and create the conditions for long-term growth," said the Honourable Alice Wong, Minister of State (Seniors) on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). "Funding projects like Carey Place will not only improve the overall housing conditions for seniors, but will help to stimulate the local economy and create jobs."

"It is important to me and our government that seniors have access to affordable housing options in the District of Saanich and across the province," said Murray Coell, MLA for Saanich North and the Islands. "Projects like Carey Place provide seniors access to quality housing in the communities where they have established roots amongst family and friends. Together we can ensure that seniors remain integral and valued members of our communities."

Through an amendment to the Canada-British Columbia Affordable Housing Agreement, the federal and provincial governments contributed a combined total of approximately $4 million for the construction of 27 seniors' rental housing apartments within the 55 unit Carey Place project. The Province also provided $2.7 million in long-term financing. The Capital Regional District provided the land valued at approximately $2.4 million and Baptist Housing provided more than $3.2 million in cash equity for this project.

"The opening of Carey Place marks the completion of our next phase in the development of the former Mount View school site," said Geoff Young, board chair, Capital Regional District. "We are delighted to have provided the land for this project so that seniors in the Capital Region now have greater housing options available to them in the community they know and love."

Baptist Housing manages and operates Carey Place. Baptist Housing is a non-profit organization dedicated to providing quality seniors' housing, retirement and residential care homes throughout British Columbia since 1964.

"Baptist Housing has almost 50 years of tradition in bringing quality housing and residential care to seniors in B.C.," said Howard Johnson, president and CEO, Baptist Housing of Greater Victoria. "We are proud to carry this tradition forward, providing housing for our senior residents at Carey Place. We are thankful for the tremendous support received from all partners that helped us realize our vision today."

The Seniors' Rental Housing initiative was a result of a $365-million joint investment under an amendment to the Canada-British Columbia Affordable Housing Agreement, which included funding through Canada's Economic Action Plan and by the Government of British Columbia. This initiative, first announced by the two levels of government on April 8, 2009, provided $123.6 million, including $104 million for seniors and $19.6 million for persons with disabilities, to develop approximately 1,300 new affordable rental housing units, which has helped to stimulate local economies in smaller communities throughout B.C. Under the terms of the agreement, the provincial and federal governments provided matching contributions of $61.8 million.

The Canada - British Columbia Agreement for Investment in Affordable Housing 2011 - 2014, signed in July 2011, confirms the remaining three years of B.C.'s five-year allocation of the Government of Canada's 2008 commitment of more than $1.9 billion to improve and build new affordable housing and help the homeless. This means a further $90 million in federal funding for British Columbians in housing need. With matching provincial contributions of $90 million, a total combined investment of $180 million helps to support affordable housing programs for B.C. residents.

The Government of Canada, through CMHC, will invest more than $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 British Columbia, this represents some 68,650 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.

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

Over the last decade, the province has invested $2.8 billion to provide affordable housing for low-income individuals, seniors and families. This year, more than 97,000 B.C. households will benefit from provincial social housing programs and services. To find out more, visit: www.bchousing.org

A backgrounder follows.

Media inquiries:

Seumas Gordon
BC Housing
604 439-4789

Andrea Scott
CMHC Communications
BC Region
604 737-4064

Marian Ngo
Office of Minister Finley
819 994-2482

BACKGROUNDER

Carey Place

Baptist Housing's Carey Place is located at 3812 Carey Road in Saanich. The four-storey wood frame building consists of 55 one-bedroom apartments, including:

• 27 seniors' rental housing apartments for low-income seniors, managed and operated by Baptist Housing.

• 22 affordable rental apartments for seniors in need, owned and operated by Baptist Housing.

• Six apartments owned by the Capital Regional District and managed and operated by Baptist Housing.

Partners and Funding:

The total capital cost of this project is approximately $12.3 million.

• The Government of Canada provided approximately $2 million under Canada's Economic Action Plan, this includes housing for low-income seniors.

• The Province of British Columbia provided approximately $2 million and approximately $2.7 million in long-term financing.

• The Capital Region District provided the land, valued at $2.4 million.

• Baptist Housing provided over $3.2 million in cash equity.

Baptist Housing Society of B.C.

Established in 1964, Baptist Housing is a Christian registered charitable organization committed to providing quality seniors' housing, retirement homes and residential care homes to B.C. seniors.

Media inquiries:

Seumas Gordon
BC Housing
604 439-4789

Andrea Scott
CMHC Communications
BC Region
604 737-4064

Marian Ngo
Office of Minister Finley
819 994-2482