Spallacci Contracting will help build Terraces on King, an affordable housing project for lower-income families, seniors and persons with disabilities in Hamilton. Part of the funds will come from the Canada-Ontario Affordable Housing Program.
HAMILTON
Spallacci Contracting will help build Terraces on King, an affordable housing project for lower-income families, seniors and persons with disabilities under the Canada-Ontario Affordable Housing Program.
“Projects like the Terraces on King will help revitalize Hamilton’s downtown core by building safe and affordable housing units close to shopping, transportation and community services,” said Judy Marsales, Hamilton West MPP.
The $17.2 million project, including $8.6 million from the Canada-Ontario Affordable Housing Program, will provide 123 rental apartments at 260 and 280 King St. East in the City of Hamilton.
The units will be occupied by lower-income families, seniors and persons with disabilities. Federal and provincial funding was complemented by more than $4.7 million in municipal financial incentives.
“This project is an excellent example of the City partnering with both the federal and provincial governments and the private sector to provide affordable housing,” said Mayor Fred Eisenberger. “This particular development will provide affordable housing for lower-income families and seniors. Multi-sector partnerships for developments like the one we’re celebrating today are critical in making sure everyone has a home.”
“Strong Start funding is allowing us to transform an underdeveloped site which will have tremendous impact on the revitalization of downtown Hamilton, while also providing affordablel housing,” said Rudi Spallacci, Spallacci Contracting Ltd. President.
The Canada Mortgage and Housing Corporation has contributed $9.68 million through the Canada-Ontario Affordable Housing Program in Hamilton.
DCN NEWS SERVICES
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