On Tuesday morning local politicians gathered to celebrate the groundbreaking of the new affordable seniors housing complex in Thorold.
As ThoroldToday reported, the Thorold Municipal Non-Profit Housing Corporation (TMNPH) is building a 60-unit affordable seniors housing complex at 5 Baker Street.
“We all know that ensuring housing affordability for all Canadians isn’t a quick fix,” MP Vance Badawey told the gathered crowd. “It calls for a long-term plan to create more housing supply. It’s a bottoms-up approach. The planning starting at the local level, supplemented by the involvement of all levels of government.”
To build the project, the TMNPH received $14.8M from the federal government, through the the National Housing Co-Investment Fund.
“Investing in our communities encourages growth and economic prosperity for residents and businesses,” said MP Badawey. “This project is yet another example of the power of collective effort and innovative solutions that we all strive for in partnership with each other.”
The TMNPH also obtained $4.6M from the Small Communities Fund, a federal and provincial fund administered by the Ministry of Infrastructure, and they're putting $1.5M of their own equity into the project.
The building will have 30 one-bedroom units and 30 two-bedroom units. The one-bedroom units will be offered at a rent-geared-to-income (RGI) rate and the two-bedroom units will be offered at rent market value.
Niagara Regional Housing is a partner on the project and they will provide subsidies to 15 of the 60 units.
“I look forward to not only the ribbon cutting as the doors open, but to watch people move into their new home, a home that they deserve and that together we’ve been able to provide,” said Regional Chair Jim Bradley, during Tuesday’s groundbreaking ceremony.
Mayor Terry Ugulini, along with Councillors Nella Dekker, Tim O’Hare and Ken Sentance were also in attendance.
“We need to do more of this type of housing,” Mayor Ugulini said. “We do a good job of building purpose-built student housing [but] we need to do a better job of building purpose-built community housing. I think that’s what we learned from a project like this.”
In his speech, Mayor Ugulini highlighted that Thorold is the eight fastest growing municipality in Canada, leading the Region in population growth.
“We are doing a really good job of building housing and our commitment to building more homes,” Mayor Ugulini said. “But this type of housing is the housing that can make an impact. I hope moving forward we see more of this in our community.”
The housing complex at 5 Baker Street is expected to be completed by the fall of next year.