Site of proposed build. (Claire McCormack/Bayshore Broadcasting News)
A five-storey senior housing apartment complex has the support of Grey County.
County Committee of the Whole has backed a plan (Aug 12th) to put $3 million into building a $10 million Senior’s housing development in Owen Sound.
Lutheran Social Services Owen Sound has proposed a 32 unit build with 20 of those units being affordable and offered to people on Grey County’s wait list, and 12 of them are to be attainable and available to the overall community.
A recent staff report to the County’s affordable housing task force says the property would would be built on land Lutheran Social Services already owns at 1053 3rd Avenue East.
That organization already provides 78 rent geared to income units in the city that are subsidized by the County.
Two smaller buildings would be demolished to make way for the new five-storey apartment building. The project would start in Spring 2022 and wrap up in the Fall of 2023
The proposed one and two bedroom units would range from $650 to $740 for the affordable units, and market prices would still have to be determined for the attainable units.
The County’s $3 million would come from its Affordable Housing Fund, as well as the Province which a staff report says has contributed $500,000 to the County for affordable housing annually for the past two years. The County’s contribution would be a forgivable loan so long as the affordable units are rented as such for a minimum of 20 years.
Staff say the $3 million would reduce the monthly mortgage amount in order to keep the units affordable.
While this has support from councillors at Committee of the Whole, a bylaw still needs to be passed by Council at a future date.