The Open Sky Bicycle Shop at 405 Dundas Street is getting an upgrade.
Another downtown property is getting a facelift with help from the City's Community Improvement Plan.
The approved funding is interest-free loans of approximately $56,000 and grants of approximately $27,500 for the Open Sky Bicycle Shop located at 405 Dundas Street.
Development Officer Brad Hammond says the project is really a bullseye for what the city was looking for in terms of applications.
"They're creating three new residential units in the upper floors of the building. They are redoing the entire facade of the building so the brick that was there has become deteriorated to the point that it couldn't be salvaged so they are actually rebricking the entire front of the building and creating a much more pleasant shop entrance at the street level."
Hammond says this is the third project that has been approved. The others were two projects at 384 Dundas Street and 18 Vansittart Avenue.
"It will result in the result of 58 residential units in the downtown, totalling grants of $102,000 and interest free loans of $185,000, so that's where we stand right now in those three projects. The good news out of it is that because of the City's participation, we've managed to leverage $8.6 million in private sector development.
Hammond says there is still nearly $1 million waiting to be granted and loaned out.
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