(Release Date: March 14, 2017)
Mar 14, 2017
Mar 14, 2017
Carleton Place Almonte Canadian Gazette
Lanark County will soon add to its affordable housing roster with a proposed development in Carleton Place.
On March 8, the county’s community services committee endorsed a recommendation from the social housing department to award Blackrock Properties Equity Inc. a contract to provide nine affordable housing units, at a cost of $1.2 million. The funds come from the county’s allocation under the 2016-2017 federal and provincial Social Infrastructure Fund (SIF).
According to social housing manager Sandy Grey, Blackrock will construct a 12-unit apartment building for seniors at the corner of Lake and McNeely avenues; nine of which will be affordable with the possibility of the remaining three being designated as alternate social housing.
“They (Blackrock) estimate it will take about 14 months to build and hope for occupancy in June of 2018,” Grey noted. “What we’ll get out of it would be five one-bedroom affordable units where the rent would be $517 a month. For two bedrooms, the rent will be $695 and the remaining two bedroom market units would be $925.”
Grey said Blackrock estimates the total capital costs of the building to be $2.1 million ($179,166 per unit), but they will receive $133,333 for each of the nine units through the SIF, “and that’s the $1.2 million that we have available under this RFP.”
“...One of the things we have to ensure is that for the nine units that are affordable, there’s a grant to equalize the unit from a multi-residential tax rate to a single residential,” she continued, something the Town of Carleton Place must endorse.
Coun. Louis Antonakos (Carleton Place mayor) was pleased to see this project moving forward with Blackrock at the helm.
“I wanted to let you (county) know that’s a very reputable choice that you’ve chosen,” he stated. “We’ve been working with that individual for some time now and we look forward to creating affordable housing stock in Carleton Place after many, many years. Hopefully this proceeds. Thank you very much. Good job.”
Blackrock was one of two bidders for the funding, when a Request for Proposal (RFP) was issued back on Nov. 21, 2016. The bids were evaluated by Lanark County’s director of social services, Nancy Green, Grey and senior financial analyst Kevin Wills.
“We used the same criteria we use for other RFPs in social housing,” Grey explained, based on organization profile, relevant experience, proposed project concept, financing and operating plan, as well as development team.
She noted in her report to the committee, “the developer has assembled a project team with considerable experience in all aspects of housing development and operation.”
A municipal contribution agreement must be in place before Dec. 31, 2017, after which Blackrock has 90 days to begin construction. Under that agreement, the units must remain affordable for a minimum of 30 years.
The contract is expected to be formally awarded during the March 22 Lanark County council meeting.
Contact Information:
Phone: 613-257-6206
Email: lantonakos@carletonplace.ca
Email: lantonakos@carletonplace.ca
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