The Kawartha Lakes Haliburton Housing Corporation (KLH Housing Corp) is looking for Council to assist with the debt financing of two new rental apartment buildings; 30 units in Fenelon Falls and 21 units in Minden. Council received a presentation on the proposed projects at the February 12 Committee of the Whole meeting. Council will be making a decision on the support being requested for the projects at the February 19 Regular Council meeting.
“The new rental housing units will support a variety of different tenants and that is very exciting news for Minden and Fenelon Falls,” says Hope Lee, Housing Manager. “KLH Housing Corp is committed to providing rental housing options across the City and County.”
There are 1,142 subsidized housing units in Kawartha Lakes and Haliburton (726 units in Lindsay, 181 units in the rest of the City and 235 units in the County of Haliburton). As of December 2018, there were 1,672 households waiting for one of those units (601 senior households, 373 households with dependents and 698 households without dependents).
Fenelon Falls Affordable and Market Rental Housing Building
The new 30-unit building in Fenelon Falls will be located at 106 Murray Street and will support a variety of households who need a range of different sized units including one, two and three bedrooms. It will have 14 one-bedroom units ranging from 560-675 square feet, 14 two-bedroom units ranging from 761 square feet and two three-bedroom units ranging from 1,100-1,200 square feet.
The ground floor of the building will have 14 units, a laundry room, common room with a kitchen and a waste and recycling room. The utilities room and remaining 16 units will be on the second floor. There will be an elevator in the centre of the building and outdoor parking for residents. It will also include barrier free and energy efficient design options. Enbridge Gas has confirmed that 106 Murray Street is within the expanded coverage area.
In Fenelon Falls, there are 115 subsidized units and 294 households on the centralized waiting list. These households will have the option to select from these new units with their original application date. Those who are on the market waiting lists for other housing units will also have the opportunity to apply for the new market units. The building will be ready for occupancy in May 2021.
For this cost efficient, two storey, 30 unit development, the approximate project cost will be $6.8 million. KLH Housing is asking the City, to assist with the approximately $3.9 million debt financing by taking out a debenture which KLH Housing would then repay to the City through rental revenue. The City has assisted KLH Housing to develop new housing using the same model, several times in the past. Additional contributions include a $250,000 cash donation from the City, over $1 million from KLH Housing Corp reserves and in-kind municipal contributions. Read the Fenelon Falls Housing Project Report.
Minden Affordable and Market Rental Apartment Building
The new 21-unit, three storey apartment building will be located in the Township of Minden 50 metres to the east of the S.G Nesbitt Memorial Arena and Community Centre. The land is about 2.5 acres in size and a portion of it was previously used for parking, maintenance, storage and a skateboard facility. The remaining lands were undeveloped and had a partial snowmobile and pedestrian trail.
The new building will have one-bedroom apartments (600 square feet), two-bedroom apartments (810 square feet), two-bedroom with den apartments (830 square feet) and three-bedroom apartments (1,100 square feet). It will also have four fully accessible units, a modest-sized main floor common room, laundry area and an elevator. The property is also close to a number of community services and amenities. The building will be ready for occupancy in June 2020.
In Minden, there are 81 subsidized units and over 300 households on the centralized waiting list. There are also 71 households on the market waiting lists. The project will meet the City’s and County’s goal of increasing the new supply of affordable rental housing. The County of Haliburton has experienced a drop in rental supply over the past few years. To meet the demand for affordable housing, the Township of Minden Hills has targeted the creation for 250 seniors and/or affordable housing units in the next 20 years.
The cost efficient, three storey, 21-unit development has an approximate cost of $4.5 million. KLH Housing is asking the City to assist with approximately $2.9 million debt financing by taking out a debenture which KLH Housing would then repay to the City through rental revenue. The City has assisted KLH Housing to develop new housing using the same model, several times in the past. Additional contributions include a $252,000 cash donation from the County, over $1 million from KLH Housing Corp reserves and in-kind municipal contributions. Read the Minden Housing Project Report on our website.