Quinte West Council has approved development charge grants for two residential developments as part of the city’s Housing Community Improvement Plan, a program designed to encourage the construction of new rental housing.
The larger grant will go to a 20 unit purpose built rental development at 467 Front Street, which will receive $41,461.60 toward eligible development charges. A second project, a duplex at 182 Shuter Street that will add two new rental units, will receive a grant of $7,531.25.
Under the Housing Community Improvement Plan, eligible developers can receive grants reimbursing up to 25 per cent of development charges, to a maximum of $100,000 per project. The initiative is intended to help offset construction costs and encourage the development of additional housing in Quinte West.
Council approved both grants during its July 15 meeting without debate. The approvals are among the first to move forward under the city’s new Housing Community Improvement Plan, which forms part of Quinte West’s broader efforts to increase the local housing supply.
