Affordable Rental Housing Developer asks for Council Support

At the recent Municipal election, there was a lot of talk about the need for affordable housing in Cobourg.  Council seems supportive but now Balder Corporation is asking for tangible support from the Town so they can get financing of almost $9M from CMHC.  They want to build a four storey 60 unit apartment block at 315-325 University Avenue West but to get financing, they have to obtain “concessions from any level of Government”.  Since the province is unlikely to be supportive, they are asking Cobourg.  It does not have to be a large amount – in fact they do not specify an amount but leave it to council to decide.  The subject will come up at the next Committee… Read complete articleAffordable Rental Housing Developer asks for Council Support