TECUMSEH, ONT. -- A new 6-storey, multi-residential building consisting of 99 residential units will soon be constructed at 11870 Tecumseh Road E.
The Government of Canada announced Tuesday it will loan money of the rental units at the cost of $25.27 M.
The units are part of a new project, titled Tecumseh Gateway Tower.
Fourteen units will be one-bedroom and the remaining 85 will be two-bedroom units. The building will also feature several amenities, including a gym and an outdoor landscaped area.
A minimum of 31 units will have rents affordable at or below 30% of Household Median Income in the area.
“I am incredibly thrilled to be bringing this purpose rental project to The Town of Tecumseh,” says Peter Valente, President, Gateway Tower Inc. “We have many projects we are working on, but I am very proud to be part of this project to serve a need for more Affordable Housing Product in Windsor & Essex County."
The project received funding through CMHC’s Rental Construction Financing initiative (RCFi), a National Housing Strategy program that supports rental housing construction projects to encourage a stable supply of rental housing for middle-class families in expensive housing markets.
“By providing funding for new housing builds like we have for Tecumseh Gateway Tower, our government is taking action to not only increase the supply of new affordable rental developments, but to also provide housing options that are closer to jobs, services and amenities for families here in Windsor-Tecumseh, and across Canada,” says MPP Irek Kusmierczyk, Parliamentary Secretary to the Minister of Employment, Workforce Development and Disability Inclusion.
