Parkview Homes has received $8.5 million in funding through CMHC’s Rental Construction Financing initiative for a three-storey, 27-unit rental building located in Peterborough, Ontario. One of the largest residential homebuilders in the Kawartha region, Parkview Homes commenced construction on this project in July of 2019, and substantial completion is expected soon.
In addition to surpassing accessibility requirements, the building is designed to achieve a decrease in energy intensity of 16.6 per cent and a decrease in greenhouse gas emissions of 18.5 per cent relative to the 2015 National Energy Code of Buildings.
“COVID-19 has reminded us that nothing is more important than a home,” said The Hon. Maryam Monsef, Member of Parliament for Peterborough. “As we all do our part to contain the spread, homes have become a sanctuary – a place of safety and refuge in challenging times. [This] 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,” said Diane Therrien, Mayor of Peterborough. “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.”
The RCFi, a National Housing Strategy (NHS) initiative delivered by CMHC, 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.
More about the types of funding available can be found at Canada’s National Housing Strategy (cmhc-schl.gc.ca).