I fail to see how this initiative does anything to ease the critical 
shortage of affordable housing.  It will not build a single unit! 
Facilitating low income people becoming home owners is not a bad thing but 
does this really maximize our use of limited funds for housing?  What's the 
cut for The Daniels Corporation and why isn't that money going directly to 
meet the needs of people desperate for housing?
----- Original Message ----- 
From: "Kalda, Robyn" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Thursday, April 12, 2007 12:15 PM
Subject: [SDOH] FW: Affordable homeownership project officially opens in 
Toronto


> -----Original Message-----
> From: CNW Portfolio System [mailto:[log in to unmask]]
> Sent: Thu 4/12/2007 11:01 AM
> To: Portfolio E-Mail
> Cc:
> Subject: Affordable homeownership project officially opens in Toronto
>
>
> CNW Group Portfolio E-Mail
>
>
>
> Ontario Ministry of Municipal Affairs and Housing
>
> Ontario Ministry of Municipal Affairs and Housing 
> <http://www.mah.gov.on.ca/>
> <http://www.newswire.ca/images/spacer.gif>
> <http://www.newswire.ca/images/spacer.gif>
>
> Transmitted by CNW Group on : April 12, 2007 11:00
>
>
> Affordable homeownership project officially opens in Toronto
>
>
>
>     TORONTO, April 12 /CNW/ - Canada's New Government, the Government of
> Ontario and The Daniels Corporation held a ceremony today to mark the 
> official
> opening of an affordable housing development - WAVE Lakeshore West. The
> project provides affordable condominium units in Toronto for sale to
> low-to-moderate income households.
>     David Sweet, Member of Parliament for
> Ancaster-Dundas-Flamborough-Westdale, on behalf of the Honourable Monte
> Solberg, Minister of Human Resources and Social Development; the 
> Honourable
> Laurel Broten, Minister of the Environment and MPP for 
> Etobicoke-Lakeshore, on
> behalf of the Honourable John Gerretsen, Minister of Municipal Affairs and
> Housing; and Mitchell Cohen, President of The Daniels Corporation, 
> attended
> the ceremony.
>     "Canada's New Government is delivering on our commitment to create new
> affordable housing in the Greater Toronto Area and across Ontario," said 
> MP
> Sweet. "This project will help many lower income Toronto families access
> quality, affordable housing."
>     "The McGuinty government understands the need for a range of 
> affordable
> housing options," said Broten. "Between paying rent and other expenses, 
> many
> lower and moderate income residents find it difficult to save for a down
> payment. This partnership helps people get a foothold in the housing 
> market
> while alleviating some of the demand for affordable rental housing in
> Toronto."
>     "The tremendous success of WAVE Lakeshore West is proof of the pent-up
> demand for affordable housing priced within the reach of first time 
> buyers."
> says Martin Blake, Vice President of Project Implementation for The 
> Daniels
> Corporation. "Daniels is committed to making homeownership a reality for 
> as
> many people as possible, especially those who might not otherwise be able 
> to
> afford to enter the new home market. Thanks to this innovative 
> public/private
> sector partnership, many people are already calling WAVE Lakeshore West 
> home.
> We are grateful for the opportunity to be involved in this type of
> initiative."
>     The project was allocated up to $1.61 million in funding from the 
> federal
> and provincial governments under the Canada-Ontario Affordable Housing 
> Program
> Agreement (AHP) to provide five per cent downpayment assistance to 
> households
> purchasing studio and one and two bedroom condominiums. Qualified 
> purchasers
> with a five per cent down payment receive an additional five per cent loan
> from The Daniels Corporation.
>     The new Canada - Ontario Affordable Housing Program Agreement 
> comprises 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
> 20,000 households in Ontario.
>
>     Disponible en français
>
>     <<
>     For more information visit: http://www.cmhc.ca
>                                 http://www.mah.gov.on.ca
>                                 http://www.danielshomes.ca
>     >>
>
>
>
>
> -30-
>
> /For further information: Kathie Howes, Canada Mortgage and Housing
> Corporation, (416) 218-3488; Patti Munce, Office of Minister Gerretsen, 
> (416)
> 585-6333; Rhoda Eisenstadt, The Communications Group, (416) 696-9900 ext. 
> 33/
>
>
>
>
>
>
>
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