The province is rewarding the city for ground being broken on nearly 400 new homes last year.
Graydon Smith, Associate Minister of Municipal Affairs and Housing joined MPP Vic Fedeli to announce $400,000 through the second round of the Building Faster Fund.
“North Bay’s impressive progress shows what’s possible when we work together to get shovels in the ground faster,” said Graydon Smith, “This funding will play a key role in ensuring that the housing and infrastructure needs of the community are met for generations to come.”
Fedeli says North Bay broke ground on 398 new homes in 2024, which works out to 480 per cent of its 2024 housing target.
“Congratulations to the City of North Bay for exceeding your 2024 housing target,” he says. “We know the housing shortage is a challenge. With today’s $400,000 investment through the Building Faster Fund, we’re making real progress and bringing the dream of homeownership back within reach for North Bay families, first-time home buyers, and seniors.”
Friday’s announcement took place on a new 44-unit housing development off Bunting Drive.
“We market this as an affordable housing project,” says Sandy Graham, President and General Manager of Kenalex Development. “The city has helped us narrow up the lots a little bit. Instead of a normal 60-foot lot for a semi-detached home we have 50-foot lots. Every house has the ability to build an apartment in the basement.”
He says the city has been supporting them through red tape reduction and a fund providing $25,000 for each apartment built.
Graham says the project is expected to be completed within two years with another 40-50 lots to be developed nearby, then another 80 in another plot of land in the same area of West Ferris.
“The focus is going to be on affordable housing,” he says.
The province says the funding the city received can be used on infrastructure or growth-based projects.
