SAULT STE. MARIE, ON, Dec. 6, 2024 /CNW/ – The federal government is supporting the construction of Trinity Tower, a 108 unit housing project in Sault Ste.Marie. This investment is part of the federal government’s broader commitment through the Affordable Housing Fund which includes previously announced investments to build and repair over 1,033 homes in Sault Ste. Marie.
Operated by the Cara Community Corporation, this nine-story new development located at 352 Northern Avenue East, will transform the site of the former Holy Trinity Anglican church into 108 homes, including 33 affordable housing units for seniors.
The building will include a chapel on the ground floor to honor the site’s spiritual heritage along with commercial spaces for offices, food, services, and retail.
A breakdown of funding for the housing project includes:
- $34 million in low interest repayable loans and $1.3 million in forgivable loans from the federal government through the Affordable Housing Fund (AHF); and
- $70,000 from the federal government through Canada Mortgage and Housing Corporation’s SEED funding program,
Construction for this project is underway and is expected to be completed by the winter of 2026.
Quotes:
“Affordable housing is one of the core issues facing our community and this investment in Trinity Tower will provide more people a safe and affordable place to call home. We will continue to work with partners to invest in affordable housing projects here at home and across the country.”— Terry Sheehan, Member of Parliament for Sault Ste Marie, on behalf of the Honorable Sean Fraser, Minister of Housing, Infrastructure and Communities
“For the first time in decades, Sault Ste. Marie is experiencing significant population growth, and the City has been proactively working alongside government and private sector partners to expand our local housing supply to ensure we have the housing options needed to accommodate the increasing number of people choosing to settle in our community. Trinity Tower exemplifies the ongoing effort to transform under-developed property into modern, accessible housing that makes the best use of those lands, and I’m grateful for support from the Government of Canada.” — Matthew Shoemaker, Mayor of Sault Ste. Marie
“Trinity Tower, Housing for All, a Dream in the Making.“— Geoffrey Meakin, President of Cara Community Corp.
Quick facts:
- The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives is updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.
- As of September 2024, the federal government has committed $57.57 billion to support the creation of over 156,000 units and the repair of over 297,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
- The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partner organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This is a $14.6 billion program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous Peoples, people living with disabilities, those with mental health or addiction issues, Veterans, and young adults.
- As of September 2024, the Government of Canada has committed $10.34 billion to support the creation of over 40,000 units and the repair of over 166,000 units through the Affordable Housing Fund.
- Budget 2024 announced enhancements to the AHF which includes the program being extended from 2025-26 to 2028-2029. The existing New Construction Stream is now divided into two dedicated sub-streams: a Rapid Housing Sub-Stream for the creation of shelters, supportive and transitional housing for those in greatest need, and a dedicated Community Housing Sub-Stream to support affordable and mixed-market housing where there are both affordable and market rent units in a project. The Repair and Renewal Stream has replaced minimum requirements with an approach where projects supporting accessibility and energy efficiency will be prioritized. Applications including these enhancements will open on November 22.
Related links:
- Visit Canada.ca/housing for the most requested Government of Canada housing information.
- CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
- To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Featured Image: Megapixl @ Rido
