$7.6 million will help build 25 rental units for families in Peterborough

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Ontario Construction News staff writer

The federal government is financing $7.6 million to help construct 25 residential units located at 3789 Water St.d in Peterborough.

The development is a unique partnership with Kawartha Participation Projects (KPP), who will provide management of the building. KPP provides housing services and supports to people with physical disabilities living in Peterborough, Kawartha Lakes, Haliburton and Northumberland. Five units in the development have been earmarked for KPP clients and will be designed to meet the accessibility needs of tenants.

“The need for housing in our community was great before COVID, it’s only increased since. We need innovative partners and solutions to address the housing needs in our community and projects like this one do just that,” said Maryam Monsef, Member of Parliament for Peterborough-Kawartha.

“This partnership with KPP represents the Government of Canada’s continued commitment to investing in both accessible and affordable housing here in Peterborough-Kawartha.”

Greenleaf/Cor-Plan is receiving financing through the National Housing Strategy’s Rental Construction Financing initiative (RCFi), delivered by Canada Mortgage and Housing Corporation (CMHC). The RCFi supports the creation of new rental housing projects to encourage a stable supply of rental housing.

peterborough housing

In 2019, the Government of Canada invested more than $8 million combined through the National Housing Strategy in the Brock Mission and Habitat for Humanity Peterborough to build 56 affordable housing units and create 30 shelter beds in Peterborough. 

“Peterborough has a great need for all types of housing. Solving our housing challenges requires innovative solutions and cooperation from all levels of government, as well as private partners,” said Peterborough mayor Diane Therrien.

The funding through CMHC will add 25 residential units to our housing stock and will increase density in the north end of our city.”

The initial phase of a multi-phase development will provide 2 studio units, 2 one-bedroom units, 14 two-bedroom units, and seven three-bedroom units in a four-storey building that will meet all municipal accessibility requirements.

Construction commenced in late 2019, and substantial completion is expected in Summer 2021. The development is designed to achieve energy-efficiency savings of 18% and greenhouse gas emission reductions of 23% relative to the 2015 National Energy Code for Buildings.

“It was an easy decision to work with KPP to tenant the fully accessible suites with tenants who actually need them,” said Sheldon Rokin, president, Greenleaf/Cor-Plan. “We will achieve the mandated reductions in energy consumption and greenhouse gas emissions with an insulated concrete and steel building. This type of construction offers further advantages of being highly fireproof and soundproof.”

Peterborough’s rental vacancy rate in 2019 was 2.1% according to CMHC’s annual rental market report. The RCFi, a National Housing Strategy (NHS) initiative delivered by CMHC, supports rental housing construction projects to encourage a stable supply of rental housing across the country for middle-class households struggling in expensive housing markets.

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