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Bonnie Brae Building Will Be Renovated For Affordable Housing Project

Thursday, 28 May 2015 05:39

County Council approves over a million dollars in funding for Tavistock affordable housing project.

TAVISTOCK - The Bonnie Brae building in Tavistock is getting a new lease on life. 

The former long-term care facility is being renovated to create 16 affordable housing units for seniors. Oxford County Council authorized just over a million dollars in funding for phase two of the Investment in Affordable Housing program that started in December 2014. 

"So there was a competitive process, this was the successful proponent [DPK Realty Holdings Ltd.] in that process, and so they will be under construction almost immediately and then year three funds will be released sometime in the New Year," said Paul Beaton, Director of Human Services for the County.

The proponent will also add three market rental units as well. The funding received five bids with three being narrowed down, including Ontario Limited and Indwell Community Homes. Indwell had proposed using the funding for Phase two of the Harvey Woods site. 

"This project will take about a year to complete in terms of construction time but the six year program started last year so we're in year two...so there's four years of funding left in the program," Beaton pointed out. 

Affordable housing units are offered at 80% of market value. It's unclear what these units will go for and Beaton advises residents to keep an eye out for marketing campaigns closer to when the units will be finished.

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