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New Affordable Housing Complex in the Works

Thursday, 21 January 2021 05:23

A new affordable housing complex could be on the horizon for the Friendly City.

WOODSTOCK - A new affordable housing apartment complex is in the works for Woodstock.

The new building would have 48 units and will be located beside the Woodingford Lodge site on Southwood Drive. Manager of Housing Development for Oxford County Rebecca Smith says they still need a few more approvals before they can break ground.

"We have applied for funding from the Federal Government through CMHC, so until we hear back from the Federal Government, which is expected in February, we won't be proceeding until then." 

County council has set aside $1.4 million for the project and the hope is that construction will start in March. The four storey apartment building with have 48 units that will be ear marked for low income seniors. Smith explains who would qualify for one of the apartments.

"So you would have to have an annual income of $38,000 a year or less and the rents will be capped off at 80% of the average market rent for the area." 

Once the County finds out if they will get the funding from the Federal Government, the project will be brought back to County Council one last time for final approval. If all goes well, they could have shovels in the ground by March. 

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