Cornwall, P.E.I., to get 70 new rental units, with some for seniors and low-income families | CBC News
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The Town of Cornwall is set to get 70 new rental homes on Kingston Road, with some units reserved for seniors and low-income families.
The new development, announced at a news conference in the P.E.I. town on Thursday, is backed by $18.6 million in funding through Canada Mortgage and Housing Corporation’s Apartment Construction Loan Program.
Plans for the project include a mix of accessible units, mid-market rentals and multiple three-bedroom units geared toward families — something Heath MacDonald, the federal agriculture minister and MP for Malpeque, said is in high demand in a place like Cornwall.
“It’s a growing community, likely one of the fastest growing communities in the province, if not eastern Canada, so we’ll continue to invest,” MacDonald said.
P.E.I. Housing Minister Kent Dollar said that as part of the development, the P.E.I. Housing Corporation is partnering with Kingston Holdings Inc., the developer, to secure eight units for Island seniors and families on the provincial social housing waitlist. Four of those units will be accessible.
Dollar said the province is providing a $400,000 forgivable loan and entering into a 25‑year lease agreement for those eight units. For the people that live in these eight units, rent will be set at 25 per cent of their income.
“That means housing that is not only affordable today, but predictable, stable and secure for families, seniors who need it the most,” Dollar said.
He added that this kind of partnership with private developers lets the province add more affordable housing more quickly, without government having to build and manage every unit itself.
Money for infrastructure extension
Also announced Thursday was more than $2.5 million in federal funding for Phase 1 of a project to extend water and wastewater infrastructure along Cornwall Road.
The work will add about 600 metres of water and sewer mains and is one of 13 projects receiving support through the Build Communities Strong Fund this week.
“This is critical for infrastructure in the present and future growth of our town,” said Cornwall Mayor Minerva McCourt.
“Investments in this area, with the pipes in the ground, help to enable new housing, new commercial development as well as economic development.”