Hard working middle-class families in Winnipeg deserve a safe and affordable place to call home where they can thrive and spend more time with their children.
Today, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC) and Robert-Falcon Ouellette, Member of Parliament for Winnipeg Centre, announced the construction and funding of 119 new rental housing units in Winnipeg to help middle-class families have an affordable place to live.
Through CMHC’s Rental Construction Financing initiative (RCFi), the federal government is investing over $26 million for the construction of Arts District, a 14-storey building that will provide safe and affordable homes to 119 families. At least 46 units will meet Manitoba Affordable Housing Rental Housing rental guidelines and meet the requirements of the province’s Rental Housing Construction Tax Credit program. Over 10% of the units will be barrier free and all commons areas will meet the municipal accessibility requirements through universal design.
The UWCRC 2.0 Inc. project will provide affordable housing options close to public transit, car share services, schools and services for modest and middle-income households. As a result, they can enjoy better social outcomes and contribute to vibrant and socially inclusive neighbourhoods.
The RCFi, a National Housing Strategy initiative delivered by CMHC, supports affordable rental housing construction projects to encourage a stable supply of affordable rental housing across the country for middle-class families struggling in expensive housing markets.
"Through the National Housing Strategy, more middle class Canadians - and those working hard to join it - will find safe, accessible and affordable homes where their families can thrive and children learn and grow. Our Government is committed to increasing the supply of rental units for Canadians through projects like the one we are announcing today."
"This investment is wonderful news for the Winnipeg middle-income families that will move into these new affordable rental housing units. It will contribute to build a foundation for their social and economic success as well as help create new jobs and stimulate our local economy."
"The University of Winnipeg has a long history of working in partnership with the surrounding community to make good things happen. Through the University of Winnipeg Community Renewal Corporation (UWCRC) & UWCRC 2.0 Inc., we are innovative in our approach to real estate by developing projects that have benefits for a broad range of people, including students and community members. The project at 290 Colony is an example of how universities, working with community, can be instrumental in positive community development. We thank the federal government for partnering with us to make this project a reality."
"The 119-unit, 290 Colony street project will further contribute to university-district revitalization efforts, through providing quality, in-demand rental units, in a growing arts precinct at the Western edge of Winnipeg’s downtown. We are pleased that several arts and several non-profit service agencies, such as Artspace and Performing Arts Lodges Manitoba are partners in this project. Like, the adjacent Downtown Commons project, this project features apartment at premium, market and affordable rents, and will feature several units for visiting and local artists’ use. In addition to studio, one, two and three bedroom residential units, the project will also include main level commercial units, further animating the street level experience of Colony and St. Mary Avenue."
- Under the Investing in Canada plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada's rural and northern communities.
- Launched in April 2017, the RCFi has generated a lot of interest and a high number of quality applications. This is why, through Budget 2018, the Government increased the amount for low-cost loans provided by this initiative from $2.5 billion to $3.75 billion from 2018 to 2021.
- The RCFI will encourage the construction of more than 14,000 new rental housing units across Canada.
- Low-cost loans are available to borrowers who want to build affordable rental housing in Canada in response to demonstrated community need.
- The rental market is an important housing option for approximately 30% of Canadians.
- The rental market vacancy rate in Winnipeg is at 2.9%.
- The Arts District project will achieve energy savings of 31.2% and a reduction in greenhouse gas emissions of 23.5%
As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
To find out more about the National Housing Strategy, visit www.placetocallhome.ca.
Office of the Minister of Families, Children and Social Development
Canada Mortgage and Housing Corporation