Press Release - FOUR LEVELS OF GOVERNMENT PARTNER TO DEVELOP AFFORDABLE RENTAL HOUSING PROJECT IN THE CITY OF VAUGHAN

NEWMARKET — The Government of Canada and the Government of Ontario will partner with The Regional Municipality of York and the City of Vaughan to develop a new affordable housing apartment building in the City of Vaughan. Located on the Vaughan Civic Centre campus at Major Mackenzie Drive and Keele Street in the City of Vaughan, the building will provide 84 apartments for low and moderate income residents of York Region.

The Canada-Ontario Affordable Housing Program has committed almost $6 million to the project's estimated cost of $19 million. York Region is responsible for the construction of the project and will operate the building through Housing York Inc., York Region's non-profit housing corporation. The City of Vaughan contributed two acres of land under a 99-year lease at no cost to the project.

"By creating new affordable housing our government is supporting lower-income individuals while they work to get ahead," said the Honourable Jim Flaherty, Minister of Finance and Regional Minister for the GTA, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development. "The creation of these apartments will allow lower-income residents, seniors and persons with physical disabilities in Vaughan to live in safe, quality housing at an affordable cost."

"The McGuinty government believes every person in our province has the right to safe, healthy and affordable shelter," said the Honourable Jim Watson, Minister of Municipal Affairs and Housing. "This project in the City of Vaughan is an excellent example of the positive impact that governments can have when they work together to create new affordable housing."

The building will offer a mix of rent-geared-to-income and market rent units primarily to seniors. The four-storey building will include 65 one-bedroom units, 14 two-bedroom units and five units designed with enhanced accessibility features to accommodate people with physical disabilities.

"This affordable rental housing development provides an excellent opportunity for the City of Vaughan and York Region to address some of the goals identified in our Housing Supply Strategy," said York Region Chairman and CEO Bill Fisch. "We are developing partnerships, we are using government-owned land and we are integrating affordable housing into our communities."

"This new apartment building is an example of the City of Vaughan's commitment to being a green city," said City of Vaughan Mayor Linda Jackson. "By creating energy-efficient high density housing, we are able to preserve our green spaces, make better use of our infrastructure and further our goal of being a sustainable community."

The design and construction of this new building will achieve a Leadership in Energy and Environmental Design (LEED) Silver rating. The updated energy efficiency features to be incorporated throughout the building will support the Region's Sustainability Strategy and benefit both the environment and residents.

"This building will feature environmentally-friendly and energy-efficient enhancements that will improve the comfort of our residents," said Town of Richmond Hill Regional Councillor Brenda Hogg, Chair of the Community Services and Housing Committee and Housing York Inc. "The 84 affordable rental units will alleviate some of the pressure for housing in York Region, but we need to do more."

Construction will start in the fall of 2008 and people will move into the building in early 2010.

The Canada-Ontario Affordable Housing Program Agreement consists of a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for some 20,000 households in Ontario.For more information visit: www.cmhc.cawww.mah.gov.on.cawww.york.cawww.city.vaughan.on.ca