More than $22 million has been earmarked for the development of 87 low-cost residential units in the city
Local governments and the Canada Mortgage and Housing Corporation have announced a new multi-million-dollar investment in the construction of low-cost residential units in Winnipeg.
A $22.85 million tranche will be used in the construction of 87 residential units located at 140 Transcona Boulevard in Winnipeg.
“I’m pleased to see federal support for housing in Winnipeg that will lead to 87 more units in a growing area of our city,” said mayor Brian Bowman. “As Winnipeg continues to grow toward a million people, housing will continue to be in demand and [the] announcement will help fill that demand.”
The project will arise at the six-storey Park City Commons, building O multi-residential structure, comfortably situated in the proximity of public transit, schools, and service facilities.
“The [Rental Construction Financing initiative] provided us with lower financing fees, favourable interest rates and terms so that we could develop a living environment that addresses rent affordability and accessibility,” said Keith Merkel, president of EdgeCorp Developments, the firm behind Park City Commons.
“Hard working middle-class families in Winnipeg deserve a safe and affordable place to call home where they can thrive and spend more time with their children,” added Terry Duguid, Member of Parliament, Winnipeg South. “I want to congratulate EdgeCorp Developments, as this is their second rental housing project in Winnipeg that we have the pleasure of announcing under the Rental Construction Financing initiative.”
