A new affordable housing development in Kelowna will provide 50 apartment units for seniors and 20 townhomes for low to moderate income families in the area. Thanks to financial investments from the Governments of Canada and B.C. as well as the City of Kelowna, the project will redevelop an existing Pleasantvale Homes building, located on Kelowna’s Richter St.

According to the Canada Mortgage and Housing Corporation (CMHC), Canada’s purpose-built rental apartment vacancy rate increased, year-over-year, in October 2014. The CMHC’s Rental Market Survey, released Dec. 16, indicated that the average Canadian rental vacancy rate rose to 2.8 per cent. Inventories and average rents also rose over the course of the year.

The Co-operative Housing Federation of Canada (CHF Canada) is seeking funding from the federal government to provide rental assistance to low-income households in federally-funded housing co-ops. Through a campaign called “You Hold the Key – Fix the Co-op Housing Crunch,” CHF Canada is requesting that the Canadian government invest in a long-term strategy to address the needs of co-op members who are seniors, new Canadians, aboriginal people or persons with mental and physical disabilities.

A new rental housing complex in Prince Albert, Sask. will help individuals with complex needs access safe and affordable housing. Funding for the project, which required a total investment of approximately $725,000, was provided by the Canadian government, the Province of Saskatchewan and the River Bank Development Corporation (River Bank). River Bank is a non-profit organization promoting social and economic development for low-income individuals in Prince Albert.

In partnership with the Government of Manitoba, the City of Winnipeg has launched a new Live Downtown Rental Development Grant Program. Through the program, the Province and the City will use Tax Increment Financing (TIF) grants to offset a proportion of a developer’s capital investment and encourage the development of new multi-family, mixed-income rental housing in downtown Winnipeg.

In partnership with the USAA Real Estate Company, Madison Realty Capital (MRC) has announced plans for a $88.5-million multifamily development in Brooklyn, N.Y. The project will include an eight-storey, 191-unit apartment building with studio, one- and two-bedroom residences and ground floor retail space.

A $68-million Investment in Affordable Housing (IAH) agreement has been reached with the federal government and the Government of Newfoundland and Labrador. The funding, delivered through an extension to the existing IAH agreement, will be distributed through the Newfoundland and Labrador Housing Corporation (NLHC) over the course of five years.

According to the Canada Mortgage and Housing Corporation (CMHC), Waterloo’s new home construction market is shifting from single-detached homes to apartments. Moving forward, the CMHC says demographic changes will support this trend. The CMHC presented data to support this forecast at the annual CMHC Housing Outlook Seminar on November 25.