The federal government, through Canada Mortgage and Housing Corporation (CMHC), has announced more than $22 million in funding to support the construction of two rental-housing properties in Peterborough.

The first announcement was made on February 5 by Peterborough–Kawartha MP Maryam Monsef, and provided funding for a project at 888 Whitefield Drive.

The project is a three-storey, 27-unit building located across the road from the Kawartha Golf and Country Club. The building will include one-, two- and three-bedroom units—three of which meet universal design standards—and has been designed to achieve a minimum 16.6-percent decrease in energy intensity and 18.5-percent decrease in greenhouse gas emissions relative to the 2015 National Energy Code of Buildings.

The project has been under construction since July 2019. It is expected to be complete by the end of this month, and open for rental applications on March 1.

The developer, Parkview Homes, will receive $8.5 million in financing through the Government of Canada's Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by CMHC that supports rental housing construction projects. The program encourages a stable supply of rental housing for middle-class families struggling in expensive housing markets.

Parkview Homes is one of the largest residential home builders in the Peterborough area, and has built thousands of homes over its 30-year history.

“Housing affordability is a top priority to Parkview Homes and we achieve this objective by building housing at all levels of affordability, from small to family-sized homes within the Peterborough community,” said owner Paul Dietrich.

In a second announcement on February 12, Monsef explained that CMHC would provide $14 million to help build 46 units located at 3789 Water Street in Peterborough. 

Construction of that project is expected to begin early this year, with a targeted completion of October 2022. The building, which will be located to the north of Trent University, will be developed by Greenleaf/Cor-Plan.

The project includes a partnership with Kawartha Participation Projects, which provides services, supports and housing to people with physical disabilities living in Peterborough, the City of Kawartha Lakes and Haliburton and Northumberland counties.

"This partnership is evidence of the ability of all sectors to come together and work toward the goal of providing appropriate quality housing,” said Katherine Blackwood, director of housing with Kawartha Participation Projects. “This project will not only provide suitable housing but will further Kawartha Participation Projects mission to increase the supply of accessible units and health care supports to people who would otherwise be housed in inappropriate housing or care facilities. People will receive the health care supports they need to live safely in their own homes in their own community."

The project is the second phase of a development on the Water Street site. CMHC previously issued $7.6 million in funding for the first phase.

"COVID-19 has reminded us that nothing is more important than a home,” said Monsef. “Today's announcement means more than $30 million has been invested by the Government of Canada to renovate, subsidize and build 1,600 housing units in Peterborough-Kawartha. That's 1,600 families with a safe roof over their head, 1,600 families who get to live, grow, and excel in this community we are all fortunate to call home. And there is more to come."

The RCFi supports rental housing construction projects to encourage a stable supply of rental housing across the country for middle-class households struggling in expensive housing markets. The program has nearly $26 billion available in the form of low-cost loans to support the construction of 71,000 affordable rental units.