The redevelopment of the former Mountain Secondary School site is a step closer to reality.
The city of Hamilton and a pair of non-profit housing organizations have finalized their real estate transaction in regards to the 7.2 acre property on Caledon Avenue.
Hamilton East Kiwanis Non-Profit Homes and Victoria Park Community Homes, with support from the city, plan to build affordable rental units as part of a mixed-income community.
The city purchased the former school property in 2018, by spending over $3.1 million from its $50M Poverty Reduction Investment Fund.
The city is also contributing $5.073 million “in-kind” to reduce the capital cost of the project, helping to achieve affordable rents.
The partnership also secured seed funding from the Canada Mortgage and Housing Corporation through its National Housing Strategy.
“I am excited to work with Victoria Park Community Homes, East Kiwanis Non-Profit Homes Inc. and the Ward 8 community towards the development of badly needed affordable housing on Hamilton Mountain”, Ward 8 Coun. John Paul Danko said.
Edward John, Hamilton’s director of housing services, said the project “represents an incredible opportunity to deliver affordable housing through a partnership of two of our strongest providers.”
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