October 14, 2009
Port Coquitlam Social Housing Benefits from B.C. - Canada Partnership

PORT COQUITLAM  – The Governments of Canada and British Columbia are investing more than $800,000 in local social housing through a cost-shared Housing Renovation Partnership (HRP). This funding for Tamarak Terrace Apartments is one of 81 projects province-wide which will create more than 1,100 jobs.

“Improving social housing is an ongoing priority for us,” says Port Moody-Coquitlam MLA Iain Black. “We are meeting this aim and also creating jobs at a time when they are needed most.”

“This funding will add years to Tamarak Terrace Apartments,” says Coquitlam-Burke Mountain MLA Douglas Horne. “Improving social housing while creating economic stimulus is a win-win.”

“Our Government, under the leadership of Prime Minister Stephen Harper, committed to improve and build new affordable housing,” said the Honourable James Moore, Minister of Canadian Heritage and Member of Parliament for Port Moody-Westwood-Port Coquitlam. “Today is another example of our Government delivering on our commitments.”

Tamarak Terrace Apartments will receive $800,000 for work to mechanical systems, as well as to improve energy efficiency.

Of the total $176.76 million announced, the majority of the funding, $163.7 million will be directed toward repairs at 81 social housing developments. The remainder of the funding, $13.06 million is being allocated to renovations that are underway at provincially-owned Single Room Occupancy (SRO) hotels.

The funding was made available as 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 new initiative is part of an overall $14-billion capital infrastructure program launched by the Province that will create up to 88,000 jobs over three years and help build vital public infrastructure in every region of the province.

Through Housing Matters BC, the Province is addressing a range of housing needs, from homelessness to affordable rental housing and homeownership.  In 2009, the provincial housing budget is approximately $450 million, more than three times as much as in 2001.  To find out more about affordable housing in B.C., visit www.bchousing.org.

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/housingactionplan.  For more information on Canada’s Economic Action Plan, call 1-800-O Canada or visit www.actionplan.gc.ca.

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