Every Canadian deserves a safe and affordable place to call home. Thanks to investments made by the Government of Canada, residents of Peterborough will soon have access to more stable rental housing options.
Today, the Honourable Maryam Monsef, Member of Parliament for Peterborough–Kawartha and the Minister for Women and Gender Equality and Minister of Rural Economic Development, on behalf of the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced $8.5 million to help construct a three-storey, 27 rental unit building located at 888 Whitefield Drive in Peterborough.
The 888 Whitefield Drive development by Parkview Homes is receiving financing through the Government of Canada’s Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by CMHC that supports rental housing construction projects. The program encourages a stable supply of rental housing for middle-class families struggling in expensive housing markets.
Parkview Homes, one of the largest residential homebuilders in the Peterborough area, has built thousands of homes over 30 years of work, including single detached homes, executive townhomes, low rise condos and active adult lifestyle condominiums, all nestled in unique neighbourhoods and desirable locations.
Thanks to today’s announcement, families in Peterborough will have access to more rental housing units that meet their needs.
Quotes:
“Every Canadian deserves a safe and affordable place to call home. Today’s announcement will help create more rental units for Canadians, especially our most vulnerable. Homes that are accessible and energy efficient represent our Government’s commitment to making sure the housing needs of local communities across this country, including right here in Peterborough, are met.”
“COVID-19 has reminded us that nothing is more important than a home. As we all do our part to contain the spread, homes have become a sanctuary — a place of safety and refuge in challenging times. Today’s announcement means more than $30 million has been invested by the Government of Canada to renovate, subsidize and build 1,600 housing units in Peterborough-Kawartha. That’s 1,600 families with a safe roof over their head, 1,600 families who get to live, grow, and excel in this community we are all fortunate to call home. And there is more to come.”
“Peterborough has a significant need for more safe and accessible housing. I would like to thank MP Monsef for her work to push this project forward, as well as CMHC and Parkview Homes for their commitment to providing secure, energy efficient units that meet the needs of our community.”
“Parkview Homes and its Creative Team are pleased to have been awarded financing under the National Housing Strategy to build a high quality 27-unit apartment building. Providing 1, 2 and 3-bedroom options in a family-oriented neighbourhood, these apartments will also have many other modern features – High Energy Efficiency, Barrier Free Accessibility in addition to Universal and Adaptable housing options. Housing Affordability is a top priority to Parkview Homes and we achieve this objective by building housing at all levels of affordability, from small to family-sized homes within the Peterborough Community. Parkview Homes would also like to acknowledge the support of Taylorwood Realty Advisors in promoting the CMHC RCF initiative and helping us navigate through the application and due diligence process. We are thankful of the collaboration and look forward to supporting the goals of the National Housing Strategy.”
Quick facts:
- The project surpasses the minimum requirement of 10% of accessible units. A total of 3 units will have a universal design.
- The building is designed to achieve a minimum 16.6% decrease in energy intensity and 18.5% decrease in greenhouse gas emissions relative to the 2015 National Energy Code of Buildings.
- Construction commenced in July of 2019, and substantial completion is expected soon.
- Canada's National Housing Strategy (NHS) is a 10-year, $70+ billion plan that will give more Canadians a place to call home—this includes more than $13 billion committed through the 2020 Fall Economic Statement.
- The RCFi, a National Housing Strategy (NHS) initiative delivered by CMHC, supports rental housing construction projects to encourage a stable supply of rental housing across the country for middle-class households struggling in expensive housing markets.
- New measures introduced in the Fall Economic Statement on November 30, 2020, build on the Government's previous investments to enhance housing affordability for those who need it most, including an expansion of the RCFi by $12 billion over 7 years, starting in 2021 – 22, to support the construction of an additional 28,500 rental units. This additional funding will now support the construction of 71,000 affordable rental units, bringing the program to a total of $25.75 billion in low-cost loans.
Associated links:
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, YouTube, LinkedIn, Instagram and Facebook.
To find out more about the National Housing Strategy, visit www.placetocallhome.ca.
Information on this release:
Mikaela Harrison
Office of the Minister of Families, Children and Social Development
mikaela.harrison@hrsdc-rhdcc.gc.ca
Angelina Ritacco
Canada Mortgage and Housing Corporation, Media Relations
416-218-3320
aritacco@cmhc-schl.gc.ca
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