Government funding of more than $2.4 million will help create 63 community housing units in Peterborough, Ont., officials announced Monday morning.
In a joint announcement from the Ontario and federal governments, $2,457,000 will support the six-storey building at 555 Bonaccord St., known as Hunt Terraces, which has 85 units in total, including one- and two-bedroom units.
Amenities in the building include a dining room with meal options, laundry facilities and a common room. Certain units are designated for individuals who require health and/or housing supports, which are provided on-site through community partners such as the Victorian Order of Nurses (VON).
The project is part of an investment of over $46 million through the Canada-Ontario Community Housing Initiative (COCHI) to create 267 affordable housing units across Ontario.
The Peterborough Housing Corporation (PHC) spearheaded the construction of the 85-unit complex on the former Fleming College McRae Campus property. It’s the second phase after the PHC purchased the property in 2014 and converted one building into apartments in 2020 (known as Malcolm Court).
“555 Bonaccord is a unique building for PHC, offering both market and affordable units in a multi-generational setting,” said Hope Lee, CEO of the PHC. “The ground floor commercial space offers several amenities such as on-site offices for support partners, common spaces for tenants, meeting facilities for the public and dining options for both tenants and the public. The COCHI funding is a much-appreciated contribution towards our capital costs.”
Mayor Jeff Leal says the community is working together to build affordable housing and to build homes.
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“The dedicated team at the city’s social housing agency, Peterborough Housing Corporation, led a true community effort to build the $31.1-million, 85-unit second phase at Hunt Terraces that includes 65 community housing units and 20 market rent units,” he said. “Thank you to the Province of Ontario and the Government of Canada for investing in this project alongside the City and County of Peterborough. As we strive to meet the critical housing needs of residents, Hunt Terraces serves as an example of what we can accomplish together.”
Peterborough-Kawartha MPP Dave Smith says the 63 additional units will support senior housing and provide a “variety of affordable housing” paired with “great amenities.”
“It is part of our government’s commitment to build 1.5 million homes to tackle the housing crisis, as well as helping seniors stay in their own homes,” said Smith. “This funding works to address both commitments seen through the collaboration of all levels of government and is a fantastic announcement for the Peterborough-Kawartha region.”
In a statement on her social media platforms, Peterborough-Kawartha Conservative MP Michelle Ferreri said it was an “honour” to advocate on behalf of the PHC to help secure $19 million in financing and over $750,000 for the Hunt Terrace project.
Last September she sent a letter to the minister of housing and diversity and inclusion to highlight the project and stated that there were 344 people on the city’s by-name priority list (a real-time list of all people experiencing homelessness) and that 202 people were on the VON’s wait-list for assisted living in Peterborough.
“Working in opposition means working extra hard to advocate for Peterborough-Kawartha and collaborating with Ministers to secure funding,” she said. “This building supports daycare, senior supports, affordable housing, supportive housing, community spaces, commercial space, and much more all on the same property! Huge congratulations to Peterborough Housing Corporation and the innovative new build that will house 85 individuals in our community.”
Steve Clark, Ontario’s minister of municipal affairs and housing, applauded the partnership with the municipal and provincial governments.
“Everyone deserves a safe and affordable place to call home,” he said. “That is why our government is working hard to help more Ontarians find a home that is affordable and meets their needs. I am pleased to see the strong relationships we have built with all levels of government, and we will continue to work hard to tackle Ontario’s housing crisis.”
More to come.
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