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.
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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.
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“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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