The developers of a new high-rise apartment aiming to achieve “net-zero operations” at the site of the former Winnipeg police headquarters are getting some help from the federal government.
Construction of the 10-storey, 102-unit Market Lands Net Zero High Rise is expected to be complete by December 2023 at 155 Princess St.
On Friday the federal government announced $24.8 million in funding through both repayable and forgivable loans, as well as $2.6 million in grants for the project.
Owned and developed by The Market Lands Inc., the new building will include 52 affordable housing units and is expected to be Canada’s first on-site net-zero affordable residential high-rise, according to a federal release.
The developers say the building will be 100 per cent naturally ventilated, will produce 100 per cent carbon-neutral domestic hot water and will achieve net-zero operation through on-site energy production.
The federal loans come through the Canada Mortgage and Housing Corporation’s National Housing Co-Investment Fund and the grant money is earmarked from the NHS Affordable Housing Innovation Fund.