Canada Providing More Rental Housing for Families in Peterborough

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PETERBOROUGH, ON, Feb. 5, 2021 /CNW/ - Every Canadian deserves a safe and affordable place to call home. Thanks to investments made by the Government of Canada, residents of Peterborough will soon have access to more stable rental housing options.

Today, the Honourable Maryam Monsef, Member of Parliament for Peterborough–Kawartha and the Minister for Women and Gender Equality and Minister of Rural Economic Development, on behalf of the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced $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.

Parkview Homes, one of the largest residential homebuilders in the Peterborough area, has built thousands of homes over 30 years of work, including single detached homes, executive townhomes, low rise condos and active adult lifestyle condominiums, all nestled in unique neighbourhoods and desirable locations.

Thanks to today's announcement, families in Peterborough will have access to more rental housing units that meet their needs.