It’s being billed as an important step toward increasing housing supply and strengthening area communities.
The District of Nipissing Social Services Administration Board (DNSSAB) is welcoming a Canada Mortgage and Housing Corporation Seed Loan to move housing development work forward in North Bay, West Nipissing, and South Algonquin.
It can be used on pre-construction activities, including environmental assessments, geotechnical studies, site investigations, and more.
DNSSAB will be preparing four housing sites for future construction.
They include 365 Lakeshore Drive and Manitou Street in North Bay, 70 Principal Street East in Verner and 6 Galeairy Lake Road in Whitney.
“Access to this type of early funding is critical for communities like ours,” says Mark King, DNSSAB Board Chair. “This support from the federal government and CMHC allows us to do the careful groundwork that strong housing projects require. It helps ensure we are building the right homes, in the right places, and in a way that meets the long-term needs of our communities.”
The Seed Fund loan funding was secured by DNSSAB’s local housing authority, the Nipissing District Housing Corporation.
