The province is providing more than $2 million in new funding for repairs and retrofits to social housing in Peterborough.
Peterborough MPP Jeff Leal made the announcement on Thursday morning at city hall, stating the city will receive up to $2,208,161 to upgrade social housing apartment buildings over the next five years — contingent on carbon market proceeds.
“This investment will ensure that our social housing is modern and energy efficient,” said Leal.
“By providing individuals and families with decent housing we are giving them more than just shelter; it provides stability, security and dignity.”
The upgrades will include new energy efficient heating, improved insulation and window replacements.
“With the support of the provincial government, we are helping to provide stable, safe and affordable housing that is essential to the quality of life for individuals and families in the Peterborough region,” said Mayor Daryl Bennett.
Proceeds from the province’s carbon market must by law be invested into programs that help households and businesses reduce greenhouse gas emissions and save money on energy costs. Programs include home energy retrofits, public transit, social housing retrofits, and electric vehicle incentives and infrastructure.
The province plans to invest up to $657 million for repairs and retrofits to social housing apartment buildings across the province over five years. Ontario is investing more than $2 billion over the next three years in affordable and sustainable housing across the province, including millions more for repairs and retrofits to social housing buildings.
Under the Green Investment Fund, Ontario has already invested $82 million on energy retrofits for highrise social housing towers of 150 units or more.