MP Monsef Announces $7.6 million To Build 25 Rental Units For Peterborough Families

MP Maryam Monsef has announced that the federal government is financing $7.6 million to help construct 25 residential units located at 3789 Water Street in Peterborough.

The development includes a unique partnership with Kawartha Participation Projects (KPP), who will provide management of the building.

Patrick Cooper, CEO, Kawartha Participations Project, and Maryam Monsef, Member of Parliament for Peterborough-Kawartha, on-site at 3789 Water Street in Peterborough where 25 residential units are being constructed.

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 development at 3789 Water Street by Greenleaf/Cor-Plan is receiving financing through the National Housing Strategy’s Rental Construction Financing initiative (RCFi), one of the many NHS programs being 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.

“The need for housing in our community was great before COVID, and it’s only increased since,” says MP Monsef. “We need innovative partners and solutions to address the housing needs in our community and projects like this one do just that. This partnership with KPP represents the Government of Canada’s continued commitment to investing in both accessible and affordable housing here in Peterborough-Kawartha.”

“Peterborough has a great need for all types of housing,” adds Peterborough Mayor Therrien. “Solving our housing challenges requires innovative solutions and cooperation from all levels of government, as well as private partners. The funding through CMHC will add 25 residential units to our housing stock and will increase density in the North end of our city.”

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