An additional $2.4 million in federal funding has been earmarked to help create 40 new affordable housing units in Cobourg, Ont.
On Friday, government officials announced the new funding for the Elgin Park Redevelopment project which will expand 18 existing semi-detached homes to allow for a series of four-plex and six-plex buildings which will comprise 40 units. Elgin Park is owned and operated by Northumberland County Housing Corporation (NCHC).
Plans for redevelopment were first announced by Northumberland County in March 2019.
The funding is provided through the federal National Housing Co-Investment Fund, a 10-year $7-billion housing plan.
It complements $5.7 million announced in June 2020 through the cost-shared Canada-Ontario Community Housing Initiative (COCHI) which funds expansion, repairs and upgrades to community housing for affordable units.
Northumberland County warden Bob Crate says the additional funding will “quickly advance” the Elgin Park redevelopment. Construction on the units for low-income households is underway with first occupancy planned for summer 2023.
Get daily National news
“We continue to make progress on our commitment to increase the availability of affordable homes in our community, in alignment with Northumberland County’s 2019 Affordable Housing Strategy,” he said.
Gil Brocanier, NCHC board chairperson, says the project will result in 28 new subsidized housing units and 12 attainable market rent housing units. The new development will add to the corporation’s existing complement of 344 community housing units throughout Northumberland County
“This funding support is another important step forward in increasing the number of affordable homes geared to income in Northumberland County,” he said.
“Everyone deserves a safe and affordable place to call home,” stated Ahmed Hussen, federal Minister of Housing and Diversity and Inclusion who was represented in Cobourg by Whitby MP Ryan Turnball. “Our government will continue our efforts to provide access to more housing options to Canadians, including here in Cobourg. This is the National Housing Strategy at work.”
Northumberland-Peterborough South MPP David Piccini says the Elgin Park redevelopment project will play a “crucial role in building truly affordable housing right here in Northumberland.”
“And I’m proud that the Government of Ontario is working collaboratively with municipal and federal counterparts to get shovels in the ground,” said Piccini. “We’re working hard for our community, so that Northumberland has access to affordable homes today and into the future.”
-
![]()
Despite rising interest rates some home buyers are being lured back into the market by falling house prices -
![]()
Peterborough post-secondary students could face challenges when looking for housing this September -
![]()
Habitat for Humanity to build 3D-printed house in Peterborough area -
![]()
Your Money: Update on Canadian housing market
Comments