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CMHC funds Zibi rental housing in Gatineau

CMHC funds Zibi rental housing in Gatineau

OTTAWA—The federal government through the Canada Mortgage and Housing Corporation (CMHC) has announced spending of $70 million towards a new residential building at Zibi block 10 in Gatineau, Que.

The block is part of the 34-acre Zibi master-planned community project, owned and developed by Dream Unlimited Corp. and Dream Impact Trust. The contribution is targeted to help the development achieve its greenhouse gas emission plan, stated a recent release.

The 15-storey building will have 162 units of rental housing.

The funding has two sources. Zibi Block 10 is receiving a $60-million low-cost loan through the CMHC’s Rental Construction Financing Initiative towards the construction of the project. Zibi also received a low-cost loan of $10 million through the CMHC’s Affordable Housing Innovation Fund, to help fund 200 affordable units with access to the region’s first zero-carbon district energy system, relying on post-industrial waste energy for heating and the Ottawa River for cooling.

Zibi aims to provide zero carbon heating and cooling for all Zibi tenants and residents in the 34-acre Waterfront City. Zibi Block 10 will house the central district thermal plant of the district energy system that will service the community’s energy needs.

The system, a partnership between Hydro Ottawa and Zibi, is said to be the first waste-heat recovery system in a master-planned community in North America and first zero-carbon district energy heating and cooling system in the National Capital Region. 

“We are grateful for the Government of Canada and CMHC’s support in the creation of hundreds of new rental units at Zibi, and of our Zibi community utility district energy system, a key enabler for the realization of our net-zero carbon community. Developing affordable and attainable housing, creating inclusive communities and ensuring resource efficiency are at the heart of our Dream Impact commitment, and we are very excited to see them come to life here at Zibi,” stated Jamie Cooper, director of impact investments with Dream, in a statement.

 

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