Ottawa, P.E.I. invest $24M in 2 P.E.I. apartment buildings
‘These projects will help both communities grow and prosper’
The government of Canada announced investments in two P.E.I. housing projects Tuesday morning.
One is in Stratford — a 61-unit, four-storey apartment building on Dale Drive — east of the shopping district on Kinlock Drive. The other is a 45-unit, three-storey building on Wightman Street behind the Atlantic Superstore in Montague.
The Stratford building will include 30 affordable housing units, and there will be 30 in the Montague building.
"This investment is wonderful news for the Montague and Stratford families that will move into these affordable rental housing units," said federal Social Development Minister Ahmed Hussen, the minister responsible for the National Housing Strategy, in a news release.
Ottawa will invest $11 million in the Stratford apartments and $9.3 million in the Montague project. The provincial government is contributing an additional $3.8 million. The developer is Pan-American Properties.
"These projects will help both communities grow and prosper," said Pan-American Properties president Tim Banks.
"We applaud community leaders in Stratford and Three Rivers (Montague) for their encouragement and support to help make these projects happen."
The projects will also include accessible apartments, 13 in Stratford and nine in Montague. The building plans include energy-saving systems that will significantly reduce greenhouse gas emissions as compared to the National Energy Code for Buildings.
More from CBC P.E.I.
Corrections
- A federal government press release initially said the provincial government's contribution to the project was $19 million. In fact, the province is contributing $3.8 million.Mar 04, 2020 9:47 AM AT