SAINT-GABRIEL-DE-BRANDON, August 22, 2006 Seniors with slightly limited mobility now have more affordable housing options with the construction of a 47-unit annex at Résidence Lafond. This announcement was made today by the Honourable Diane Finley, Minister of Human Resources and Social Development, Mr. Gaétan Gravel, mayor of St-Gabriel-de-Brandon, Mr. Martin Lafond, owner of Résidence Lafond, and Mr. Olivier Ménard, of the Château Jouvence group, a company specializing in the management and development of seniors' residences, with residents and partners attending the ceremony. Mr. Lafond received $70,000 for new affordable housing construction from the Proposal Development Funding (PDF) Program offered by the Canada Mortgage and Housing Corporation's (CMHC) Canadian Centre for Public-Private Partnerships in Housing. The PDF program provides interest-free loans; up to 35 per cent of the loan can be repaid to facilitate the construction of new, affordable housing. PDF loans help groups perform the necessary activities to develop their proposals until they are ready to apply for mortgages. Martin Lafond is also benefiting from a reduced mortgage loan insurance premium and other CMHC's flexible mortgage terms, based on the degree of housing affordability. A total investment of more than $3,000,000 was required to implement this project. "Canada's new Government is proud to help build these new units, which will let seniors live as independently as possible," said Minister Finley, Minister of Human Resources and Social Development. "Projects like this are an excellent example of how government and members of the community can work together to care for the vulnerable members of society." Mr. Lafond chose to undertake this major project in cooperation with the Château Jouvence group. The Entreprises Christian Arbour did the construction work from plans created by architect Louis Morissette. For more than 60 years, Canada Mortgage and Housing Corporation (CMHC) has been the national organization responsible for housing in Canada. CMHC helps to improve the living conditions and well-being of Canadians through four sectors of activity: housing finance, assisted housing, research and information transfer and promoting exports. CMHC provides Canadians with access to a broad range of quality, affordable housing and encourages the creation of dynamic, healthy communities and cities throughout the country. For more information, dial 1-800-668-2642. For more information please contact: Julie Cohen Communications and Marketing Advisor Canada Mortgage and Housing Corporation 514-283-3679
