By Cecilia Nasmith
Northumberland County has announced good news on the affordable-housing front with the purchase of a 22-unit apartment complex at 123 King St. E. in Colborne and a partnership with the Northumberland County Housing Corporation that aims to preserve the existing local stock of affordable housing.
“These units have long been some of the most affordable private-market rentals in our community,” County Director of Community and Social Services Lisa Horne said in the announcement.
“With the owner placing the building for sale, we are pleased to have been able to work with the NCHC to acquire this property and incorporate these units into its housing portfolio to support current tenants and preserve these units as affordable over the long term.”
This continues to be a top priority for the county, with the cost of housing on the rise across the province, a low local rental vacancy rate and the increasing cost of living.
In 2021, construction was launched on the Elgin Park redevelopment project in Cobourg, which will see affordable housing units on this site grow from 18 to 40. Completion is scheduled for next year.
Pre-construction work is also underway for the development of a 62-unit complex at 473 Ontario St. in Cobourg, a unique partnership among the county, the NCHC, Ontario Aboriginal Housing Services and Habitat For Humanity Northumberland that should get underway in late 2024.
With the acquisition of the Colborne property, the county (in partnership with the NCHC) is taking further action to increase the availability of housing across a range of affordability.
It was purchased with $1.55-million from housing reserves, and ownership transfers to NCHC on March 1.
NCHC Board Chair Victor Fiume noted that the average Northumberland market rent is the highest among neighbouring communities, and the vacancy rate hovers around 1%.
“With this environment creating significant pressures for many Northumberland residents, the NCHC is pleased to partner with the county to advance local affordable housing strategies – including these units – to ensure their continued affordability,” Fiume stated in the announcement.
“We remain focused on regenerating and expanding our portfolio of housing to help make Northumberland a place where everyone has access to safe and affordable housing, so – individually and as a county – we can grow and prosper, and everyone has a sense of belonging.”
County Warden Mandy Martin called housing affordability a critical issue for the community.
“The county continues to assess new opportunities – from construction, to purchase, to partnerships – to sustain and increase affordable housing options for residents,” Martin pledged.
