ST.JOHN'S, February 11, 2005 -- Newfoundland and Labrador's first affordable rental-housing development, Brookside Estates, is being constructed in Stephenville.The 14-unit building will provide seniors in the region, with access to much-needed affordable rental housing in the private market. Funding for this project is being provided under the Canada-Newfoundland and Labrador Affordable Housing agreement.The Honourable Joe Fontana, Minister of Labour and Housing, and the Honourable Joan Burke, provincial Minister of Human Resources, Labour and Employment, and Minister Responsible for Newfoundland and Labrador Housing Corporation (NLHC), made the announcement today."Brookside Estates demonstrates the Government of Canada's partnership with the province, and our commitment to provide more affordable housing in Newfoundland and Labrador," Minister Fontana said. "We are pleased to be able to provide safe and affordable housing for seniors in Stephenville.""This project is an example of inter-governmental and private-sector community partners coming together to address the needs of people within our province, said Minister Burke. "I am particularly pleased with the support and interest from the private sector to help increase the available rental housing stock throughout Newfoundland and Labrador."The approved housing development, located on New Mexico Drive in Stephenville, will receive forgivable loan funding of $210,000 from the Affordable Housing Program to offset construction costs. All of the units will remain affordable for a minimum of 10 years. The developer is CNB Holdings Limited in Stephenville.The project, which involves the conversion of an existing one-storey building with an attached commercial property, will provide rental units for independent seniors, and two of the units will be fully accessible. Construction of the project has begun, and is expected to be completed by March 2005. - 30 - For further information, please contact: Jenny BowringNewfoundland and Labrador Housing Corporation(709) 724-3055Todd SelbyCanada Mortgage and Housing Corporation(902) 426-8127
