GOLDRING APPLAUDS PROCURA’S AFFORDABLE HOUSING PROJECT

EDMONTON – The Mayfair Village project breaking ground today demonstrates that private sector developers are willing and interested in affordable rental housing, and will pave the way for future developments, says Peter Goldring, Member of Parliament for Edmonton East.

“I have been working with developer ProCura on moving this project along since it was first brought to my attention 18 months ago,” Mr. Goldring says. “I have long maintained that the private sector can provide quality affordable rental housing for a fraction of the cost of the non-profit sector, and this development proves that. ProCura is to be congratulated for demonstrating true social responsibility on this groundbreaking housing policy shift accomplishment.”

ProCura President George Schluessel and Chief Operating Officer Randy Ferguson flew to Ottawa in March 2009 for a special committee meeting arranged and chaired by Peter Goldring.

“I would like to commend Edmonton Mayor Stephen Mandel for his continual support of Mayfair Village, even through many months in which he was the sole government level of committed financial support,” Mr. Goldring states. “The city has shown its commitment with financial support above and beyond what has been contributed by the federal and provincial governments. Mayor Mandel obviously understands not only the need, but what can be done to help solve the affordable rental housing problem in Edmonton.”

The project will create 237 units of affordable (10% less than market average rents) housing – 167 for individuals, 42 for seniors and 28 for people with special needs.

“Mayfair Village shows that it is possible for the private sector to be involved in affordable rental housing. It is a win-win situation as the developers are able to make a profit while at the same time saving the government money, which will allow the creation of many, many more rental housing units for the same cost.” Mr. Goldring states. “I am hoping that other private developers will follow what ProCura has done and help provide much needed affordable rental housing.”