Federal Government Is Financing $8.5 Million To Help Construct 3-Storey Rental Unit In Peterborough

Maryam Monsef, MP for Peterborough-Kawartha, announced that the federal government is financing $8.5 million to help construct a three-storey, 27 rental unit building located at 888 Whitefield Drive in Peterborough.

The 888 Whitefield Drive development by Parkview Homes is receiving 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.

Maryam Monsef making announement on Livestream Friday, February 5th, 2021

Since 2019, the Government of Canada has now invested nearly $25 million to build housing in Peterborough-Kawartha with other projects at the Brock Mission, Habitat for Humanity Peterborough, and Water Street.

That is in addition to prior housing investments for projects at The Mount Community Centre, Ontario Aboriginal Housing Services, and Peterborough Housing Corporation’s McRae project.

“COVID-19 has reminded us that nothing is more important than a home,” says Monsef. “As we all do our part to contain the spread, homes have become a sanctuary—a place of safety and refuge in challenging times. 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.”

“Peterborough has a significant need for more safe and accessible housing,” adds Mayor Therrien. “I would like to thank MP Monsef for her work to push this project forward, as well as CMHC and Parkview Homes for their commitment to providing secure, energy efficient units that meet the needs of our community.”

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