The Governments of Canada and B.C. officially announced today the purchase of 21 rental apartments in Richmond to ensure individuals and families with low to moderate incomes have more access to affordable rental housing.

The apartments, directly managed by BC Housing, are part of a 296 unit market housing development in the city, Saffron on the Park. The units are located at 8600 Park Rd. and 6828 Eckersley Rd.

Quick Facts:

• The Governments of Canada and B.C. provided a combined investment of approximately $3.7 million through the Federal-Provincial Housing initiative - www.bchousing.org/Initiatives/Creating/FPHi - under the Canada-B.C. Agreement for Investment in Affordable Housing 2011-2014 - www.cmhc-schl.gc.ca/en/corp/nero/nere/2011/2011-07-04-0930.cfm - which was extended until 2019 - www.cmhc-schl.gc.ca/en/corp/nero/nere/2014/2014-03-04-1530.cfm to purchase the 21 affordable rental apartments.
• The apartments were secured through the City of Richmond’s Affordable Housing Strategy: www.richmond.ca/plandev/socialplan/housing/strategy.htm

Quotes:

The Honourable Alice Wong, Minister of State (Seniors) MP for Richmond — on behalf of the Honourable Candice Bergen, Minister of State (Social Development) -

“Our government is committed to working with provinces and territories to increase the supply of affordable housing throughout the country. These apartments at Saffron on the Park are an example of what has been accomplished with our partners to help meet the housing needs of individuals and families in Richmond.”

Rich Coleman, Minister of Natural Gas Development and Minister Responsible for Housing -

“The purchase of these 21 apartments at Saffron on the Park demonstrates how our government is creating quality, affordable housing solutions for individuals with low to moderate incomes. I know that these fully occupied apartments are already having a positive impact on the community.”

Mayor Malcolm Brodie, City of Richmond -

“We thank senior government for taking on the ownership of these 21 rental units secured through Richmond’s Affordable Housing Strategy that have, for some time, been housing those in need of safe, affordable rental housing. It takes all levels of government, as well as non-profit and private sector organizations, to work towards solutions for housing affordability needs. The City of Richmond has secured commitments for over 1,700 affordable units since the inception of our Affordable Housing Strategy in 2007.”

Associated Links:

Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), invests approximately $2 billion in housing. These investments improve 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. Economic Action Plan 2013 continued this commitment with a federal investment of more than $1.25 billion over five years to renew the Investment in Affordable Housing to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour. To find out more about how the Government of Canada and CMHC help Canadians meet their housing needs, call CMHC at 1 800 668-2642 or visit: www.cmhc-schl.gc.ca

Since 2001, the B.C. government has invested $4 billion to provide affordable housing for low-income individuals, seniors and families. This year, nearly 100,000 B.C. households will benefit from provincial social housing programs and services.

Last year, the B.C. government invested nearly $9.5 million to provide subsidized housing and rent supplements for more than 3,600 Richmond households. To find out more, visit: www.bchousing.org

Stay Connected:

• Follow CMHC on Twitter: @CMHC_ca (twitter.com)
• Follow BC Housing on Twitter: @BC_Housing (twitter.com)

Media Contacts:

Elaine McKay
BC Housing
778 452-6476

Sonia Fecteau
CMHC
604 737-4072