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NEWS RELEASE

For Immediate Release
2010PREM0128-000724

June 18, 2010

Office of the Premier
Canada Mortgage and Housing Corporation

 

 

AFFORDABLE HOUSING BREAKS GROUND IN RICHMOND

 

RICHMOND – The governments of Canada and British Columbia, along with community partners, broke ground today on the Remy, a 188-unit housing development for low-income seniors, singles and families, including market apartments and a daycare.

 

            “The Province of British Columbia is investing $2,375,000 in the capital costs for the Remy site under the Seniors’ Rental Housing (SRH) initiative to give low-income seniors the opportunity to live in this community they love,” said Premier Gordon Campbell. “These buildings are also the first six-storey wood frame residential buildings to be built in B.C. and are an important part of the Province’s continuous commitment to provide affordable housing solutions for British Columbians most in need.”

 

            “Through Canada’s Economic Action Plan, our government is investing in affordable housing that improves the quality of life of seniors,” said Alice Wong, parliamentary secretary for multiculturalism and Member of Parliament for 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).  “In these tough economic times, Year 2 of Canada’s Economic Action Plan is providing Canadians not only with safe, affordable housing, but also with the jobs and opportunities they need, so they can strengthen and contribute to our communities.”

 

            Through an amendment to the Canada-British Columbia Affordable Housing Initiative Agreement, the federal and provincial governments are contributing a combined total of $4.75 million for the 33 affordable SRH units. The Province will also provide $500,000 and the City of Richmond will provide $900,000 for the daycare.

 

            “We welcome this new housing project as it offers low-income seniors, singles and families access to quality, affordable housing options which is an integral part in building a healthy community” said Mayor Malcolm Brodie, City of Richmond. “I also look forward to seeing the completion of the much needed daycare which both the city and Province provided resources towards.”

 

            Oris Development Corporation (Oris) is the developer of the Remy site and managed the private purchases of 70 market units. Oris is a development and consulting firm with experience in heritage restoration, single- and multi-family residential, commercial and industrial property redevelopment.

 

            “We are excited to be in partnership with all levels of government and community partners to provide new homes to this already vibrant community in the City of Richmond,” said Dana Westermark, president of Oris Development Corporation. “Designed with environmental sustainability in mind, the Remy site is an excellent example of providing innovative housing for a wide range of people, including seniors and those with disabilities.”

 

            S.U.C.C.E.S.S. will manage and operate the 33 SRH apartments for seniors. The society will also own and operate 48 affordable apartments for low- to moderate-income families and singles. Incorporated in 1974, S.U.C.C.E.S.S., is a non-profit charitable organization that provides social services to multicultural clientele at all stages of their Canadian experience.

 

            “We would like to thank our government partners for their collaboration in making this project possible,” said Peter Kwok, chair, S.U.C.C.E.S.S. “Many of our clients express their desire to live in communities like Richmond and we know seniors, singles and families in need will greatly benefit from the affordable housing units offered at the Remy site.”

 

            The Seniors’ Rental Housing (SRH) initiative is a result of a $365-million joint investment under an amendment to the Canada-British Columbia Affordable Housing Agreement, which includes funding through Canada’s Economic Action Plan and by the Government of British Columbia. This initiative will provide $123.5 million, including $104 million for seniors and $19.5 million for persons with disabilities, to develop up to 1,000 new affordable rental housing units, which will help to stimulate local economies in smaller communities across B.C. Under terms of the agreement, the provincial and federal governments will provide matching contributions of $61.79 million.

 

            Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless. It provides $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

 

            The Province of British Columbia’s $14-billion capital infrastructure program is creating up to 88,000 jobs, helping to build vital public infrastructure in every region of the province and stimulating local economies across B.C.

 

            For more information on this and other measures in Canada’s Economic Action Plan, visit www.actionplan.gc.ca.  To find out how CMHC is working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan.

 

            Through Housing Matters BC, the Province is addressing a range of housing needs, from homelessness to affordable rental housing and homeownership. In 2010/11, the Province will invest over $562 million, more than four times as much as in 2001. To find out more about affordable housing in B.C., visit www.bchousing.org.

 

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Media Contacts:

Bridgitte Anderson

Press Secretary

Office of the Premier

604 307-7177

 

Susan Thom

Corporate Communications

BC Housing

604 230-1301

 

Andrea Scott

Communications BC Region

Canada Mortgage and Housing Corporation

604 737-4064

 

Charles Sauriol

Canada Mortgage and Housing Corporation – Media Relations

613 748-2799

 

Michelle Bakos

Office of Minister Finley

819 994-2482


 

BACKGROUNDER

 

REMY

 

The Remy, located at 9388 Cambie Rd. in Richmond, will provide 188 mixed-use apartments and a daycare in three buildings. These buildings will be the first six-storey wood frame residential developments built in B.C. and will feature energy-efficient geothermal heating and cooling, co-op cars and green roofing as a part of the development’s eco-friendly design.

 

 The Remy site will include:

·         33 Seniors’ Rental Housing (SRH) apartments for low-income seniors and people with disabilities, managed by S.U.C.C.E.S.S.

·         48 affordable apartments for low- to moderate-income families and singles, owned and managed by S.U.C.C.E.S.S.

·         37 affordable-homeownership units for sale to qualified buyers

·         70 private-market apartments

·         50-60 space children’s daycare

 

Construction is estimated to be complete by December 2011.

 

Partners and Funding:

·         The Government of Canada, through Canada Mortgage and Housing Corporation, will provide a Federal Economic Stimulus grant of $2,375,000 through the amended Canada-British Columbia Affordable Housing Initiative for the 33 SRH units.

·         The Province of British Columbia will provide a matching Provincial Infrastructure grant of $2,375,000 for the SRH units, a mortgage loan not to exceed $8.1 million and interim construction financing of $34.2 million.

·         The Province, through the Ministry of Children and Family Development (MCFD), will provide $500,000 for the daycare.

·         The City of Richmond will provide $900,000 for the daycare.

 

S.U.C.C.E.S.S.

Founded in 1973 and incorporated in 1974, S.U.C.C.E.S.S., is one of the largest social service providers in Canada with 25 offices in British Columbia and four overseas offices. For more details, please visit: www.success.bc.ca.

 

ORIS DEVELOPMENT CORPORATION (ORIS)

Oris is an award-winning development and consulting firm with over 30 years of experience in heritage restoration, single- and multi-family residential, commercial and industrial property redevelopment.

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