At executive committee today, Edgar spoke in favour of the Downtown Attainable Housing Fund.
In doing so, he shared that this project was approved as part of Student Housing Grant. So of the approx 280 units, 150 will be reduced rates for students. At $30,000 per unit, that is $4.5 million city grant.
He also shared that he hopes the other 130 units in this project will be funded through this Attainable Housing Grant, which Coun. Stevenson said works out to about $26,000. So @130 units x $26k, that would be another $3.38 million or in total $7.78million support for this project.
It was my hope that the Student Incentive dollars would fund a bunch of projects and the Attainable Housing Grant would fund another series of different projects - not one housing project receiving funds from 2 different grants - if that ends up being the case.
Edgar did say the grant money does allow a builder to enhance the materials being used such as brick instead of stucco - so maybe we end up with brick like the image above.