The City of Orillia has granted a total of $77,500 to five downtown projects.
“This is very exciting because it means that we are seeing an increase in development in the core of the city, which is resulting in new housing and jobs for the community and a great return on investment.”
The Downtown Tomorrow grant program was started to stimulate development in Orillia’s core by helping people in the area make improvements to their properties, which the city says attracts new customers and increases the number of people living and working in the core.
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“Now that we are in our third year of the program, we are able to see the impacts the grant is having on the downtown,” Laura Thompson, Orillia’s real estate and commercial development manager, said in a statement.
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“As some of the larger projects such as Apple Annie’s expansion are completed, we are learning that the program has on average a 1:16 return on investment.”
City officials say the program also facilitates job creation and housing opportunities.
According to the city, a total of 16 jobs have already been created as a result of DTCIP.
An additional 25 jobs are anticipated to be created once outstanding projects are complete, and funding has also been granted for 26 new residential units, the city adds.
The five grants were awarded to properties at 62 Peter St. N., 69 Peter St. S., 126 Mississaga St. E., 19 Mississaga St. W. and 36 Andrew St. S., according to the city.
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