KAWARTHA LAKES-The City of Kawartha Lakes has put a plan to build 16 new affordable housing units on the second part of 68 Lindsay Street North in Lindsay on hold.
The city says this plan was put on hold when the soil removed for the first phase tested as contaminated.
“That soil has since been removed and options and funding for the second phase of development are being explored.” Kawartha Lakes Haliburton (KLH) Housing Corp CEO, Kirstin Maxwell told Kawartha 411 News. “Planning approvals are required to facilitate the development. There will be public consultation on the new plans and construction isn’t projected to begin until mid-2023 at the earliest.”
The development would include 16 one, two, and three-bedroom affordable housing units. The proposed project will provide six units at 80% average market rent (AMR) and ten units at 100% of AMR based on the CMHC’s 2018 Fall Rental Housing Report. The northern portion of this site is currently vacant and has been deemed by the City as surplus lands designated for future residential use. Officials say significant equity will be provided through revenues from the sale of 11 scattered single and semi-detached homes being re-invested in the creation of new accessible, energy efficient housing.
Sources of funding for this project would include:
- The lease of land approved in 2018
- Proceeds from the sale of older existing units
- CMHC Seed and Co-investment funding
- In kind municipal incentives including the waiver of any fees and charges
controlled directly or indirectly by the municipality
All 16 units would be affordable under the City’s Affordable Housing Framework and Municipal Housing Facility by-law. As such, Kawartha Lakes Haliburton Housing would qualify for in-kind City financial support toward construction costing including but not limited to:
- Lease expenses based on rental revenue
- Rezoning fees
- Site Plan fees and security requirements
- Parkland levy
- DAAP fees
- Service connection fees or charges
- Building permit fees
- Development charges
Officials say the funding allocated to the 16 units was moved to the 25 Hamilton Street project in Lindsay which enabled it to be increased from 30 to 46 units. Construction on 25 Hamilton Street will likely begin in Spring 2022 according to the city.
