Ontario Construction News staff writer
The federal and provincial governments have revealed a joint funding contribution of $41 million for two housing projects in Oshawa, providing a total of 120 units.
The residences, managed by the Durham Region Non-Profit Housing Corporation, will feature various unit sizes and “varying levels of affordability,” as stated in a press release from the Ministry of Municipal Affairs and Housing.
One project, located at 1707 Ritson Road North just east of Toronto, will consist of 66 units in stacked and back-to-back townhouses. Construction is expected to wrap up by the end of this year.
This initiative is receiving over $7 million in combined support through the Ontario Priorities Housing Initiative and the Canada-Ontario Community Housing Initiative, along with $27.5 million from the federal government’s Affordable Housing Fund.
Additionally, a second project called Conant Place at 1050 Simcoe Street South features a 54-unit affordable rental building that was completed last September. The joint funding for both projects comes after an agreement made in March between Ottawa and Queen’s Park known as the Canada-Ontario Partnership to Build, aimed at increasing housing supply and improving transit projects.
According to the agreement, Canada and Ontario plan to invest a total of $8.8 billion over ten years into housing-enabling infrastructure throughout Ontario, focusing on municipalities that lower development charges.
Funding details for 1707 Ritson Road North:
$27.5 million from the Affordable Housing Fund.
$4 million from the Canada-Ontario Community Housing Initiative.
$3.2 million from the Ontario Priorities Housing Initiative.
Funding details for 1050 Simcoe Street South:
$6.9 million from the Ontario Priorities Housing Initiative.
$17.5 million through the Affordable Housing Fund.
$47,600 from CMHC Seed funding.
$1.4 million from the City of Oshawa.
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