Construction Nears Completion on Peterborough’s New Affordable Housing Building On Monaghan Road
/Construction is approaching completion on the City of Peterborough’s new affordable housing building at 681 Monaghan Rd.
The project received $18.9 million in federal funding through the third round of the Rapid Housing Initiative (RHI3), $40,000 from Canada Mortgage and Housing Corporation’s Seed Funding program, $1,684,286 through the Ontario Priorities Housing Initiative (OPHI), with the City of Peterborough contributing $4 million. City Council decided in February 2023 to use a special one-time dividend from City of Peterborough Holdings Inc. to support its funding for this project. Photo courtesy of the City of Peterborough.