New units will aim to fulfill the area’s need for affordable and environmentally-conscious housing
Governments, together with the Canada Mortgage and Housing Corporation, have announced a substantial $70 million investment in the development of much-needed housing supply for Gatineau, Quebec.
The tranche will support the construction of a new 15-storey residential building at Zibi block 10, located at 10, rue Jos-Montferrand, Gatineau. Approximately $60 million will be coursed through the Rental Construction Financing Initiative for this project, which is slated to provide 162 new rental housing units.
CMHC added that the funds will support a significant decrease in the ecological impact of the overall Zibi master planned community, a 34-acre project owned and developed by Dream Unlimited Corp. and Dream Impact Trust.
“Zibi Block 10 will be able to provide Gatineau families with the access they need to: jobs, services and amenities,” said Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for CMHC. “In addition, through the Innovation Fund, we are encouraging innovative ways to reduce energy consumption and greenhouse gas emissions.”
Read more: Eighteen Canadian real estate markets with average prices below the national benchmark
Zibi also received a $10 million low-cost loan through the NHS Affordable Housing Innovation Fund. This funding will support the development of 200 affordable units “with equal and equitable access to the region’s first zero-carbon District Energy System (ZCU) relying on post-industrial waste energy for heating, and the Ottawa River for cooling.”
“The District Energy system, a partnership between Hydro Ottawa and Zibi, upon full build out will be the first post-industrial waste heat recovery system in a master-plan community in North America and first zero-carbon emission District Energy Heating and Cooling system in the National Capital Region,” CMHC said.
