Thank you, Mr. Speaker. Today I rise to update Members on progress made to date on the affordable housing initiative that will provide a $100 million investment in affordable housing in the Northwest Territories over the next three years.
Mr. Speaker, commitments made by this government to invest in housing through the affordable housing initiative will give us a lasting impact on our residents, our communities, and our territory for generations to come. Our success in acquiring the federal funding to complement the GNWT's investment will provide us with an opportunity to provide residents with an improved quality of life. Over the next three years, I anticipate that we will deliver new housing in every community in our territory. In addition, our increased emphasis on energy efficiency and maintenance is targeted to ensure that these homes will remain affordable and adequate well into the future.
Mr. Speaker, on two occasions during this Legislative Assembly, motions have been passed calling on the Housing Corporation to reduce core need. These motions called for reductions in core need, a renewed focus on the needs of seniors and the disabled, new partnerships with communities and aboriginal governments, and innovative approaches to provide adequate and affordable housing to northerners.
Mr. Speaker, I want to assure Members that this government takes these motions very seriously, and will continue working towards the goal we all share of improving housing conditions for all northerners and meet targets established by this Assembly.
I am pleased to inform this House that the Housing Corporation's initial allocations in communities called for up to 530 new dwellings. Based on these allocations, we estimate spending approximately $33 million in year one with the construction and delivery of over 170 homeownership and public housing dwellings in communities across the Northwest Territories. In year two we expect to expend an additional $32 million to construct and deliver more than 160 units, and year three calls for the spending of approximately $34 million to construct and deliver more than 170 units. The delivery of new housing, the construction of multi-unit dwellings, and the replacement of public housing units will improve housing conditions, reduce core need, and ensure that residents in need enjoy the benefits of homeownership. As well, this year's construction has provided employment and training opportunities for our labour force.
Land planning and development is a key component of the affordable housing initiative. The Housing Corporation continues to work together with the Department of Municipal and Community Affairs and communities to ensure that land is available for construction. The formation of partnerships and community support are key factors in ensuring the success of this initiative. Land is in place for year one of this initiative, and we continue to work with MACA and communities on acquiring and developing land for years two and three.
Mr. Speaker, the provision of affordable housing contributes to our territory on many levels. The economic and social benefits of developing housing are significant, and are among the most effective tools for community development. Housing is more than just bricks and mortar. Affordable housing is vital to the health and safety of our citizens, to the economic sustainability of our communities and the quality of life of NWT residents.
Mr. Speaker, the affordable housing initiative represents a new beginning in our efforts to reduce core housing need and to ensure that residents of the Northwest Territories have access to adequate and affordable housing. Thank you, Mr. Speaker.
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