REIN ranks the regions sixth in housing market strength among Ontario's metropolitan areas
The Federal Government and Ontario are channelling over $44m to the Durham region to build more than 358 affordable housing units in the area.
The announcement was made at an official opening for Ritson Residence in Oshawa, which provides 75 affordable apartments, including 29 accessible units, for seniors and people living with disabilities. The Investment in Affordable Housing (IAH) program funded 62 units, according to the Canada Mortgage and Housing Corp. (CMHC).
Ritson Residence was built in partnership with Mahogany Management and received over $6.7m in funding from $44m figure. Seven more affordable housing developments in Beaverton, Bowmanville, Cannington, Oshawa, and Whitby were also announced.
“It is a positive step forward in helping to address the needs of low- to moderate-income residents in our region, and we look forward to working more closely with the senior levels of government in the future,” said the late Durham Regional Chairperson Roger Anderson. “An investment in affordable housing benefits everyone, and builds strong and vibrant communities for years to come.”
A recent report from independent research think-tank Real Estate Investment Network (REIN) ranked Durham Region sixth among Ontario’s metropolitan areas, in terms of housing market strength and potential performance over the next half-decade, beating Toronto, Kingston, Orillia, and Grimsby and St. Catharines.
“Our Government is investing in affordable housing here in Durham and across Canada to help improve the quality of life for those who need it most. Secure housing provides the basic building block for better health, access to sustainable employment and, most importantly, peace of mind,” Celina Caesar-Chavannes, Member of Parliament for Whitby, said. “With our partners, we are providing a helping hand for individuals and families in need, and in doing so, we are contributing to the economic and social well-being of the entire community."
