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- Thread starter Daveography
- Start date
IanO
Superstar
policyenthusiast
Active Member
My understanding is that offering below-market rent counts for points in the MLI matrix, then for student housing they can get an extra 30k per affordable unit through the City. Not sure I see the problem.
Kosy123
Senior Member
I'm curious what type of projects the Student Housing Incentive would cause. It did say it would create around 500 units, but it totally passed my mind that there's other grants/incentives as well that could amplify that effect.
Are we going to be getting fully student housing projects or possibly a mix? With a few floors of a high rise or mid-rise tower dedicated to student residences and the rest for market housing?
Are we going to be getting fully student housing projects or possibly a mix? With a few floors of a high rise or mid-rise tower dedicated to student residences and the rest for market housing?
IanO
Superstar
Multiple approaches to this.
IanO
Superstar
The $30k/door student housing incentive was supported at executive committee today; off to council next week.
TAS
Senior Member
The $15 million student housing fund will support 500 units (@$30k/door). I believe there is a maximum number of units of funding any one project can qualify for, but I don't know what that is.
It will be interesting to see how many projects that money can support getting off the ground - building permits have to be obtained by fall 2026 to get the money and hopefully at least a few are already underway by then.
At this point in time the city doesn't know how many applications it will receive and it's encouraging developers throughtout the downtown core including The Quarters to apply. As noted, the deadline for first round of applications is Sept 30 and then there is expected to be a second round - depending on the number of projects and suitability of those projects that were made in the first round and how much money still remains in the fund.
The tricky thing is, the city is prioritizing the warehouse area - so there was some concern that what if a good project in the Quarters is submitted but the city holds off on it until the second round hoping to secure more projects in the priority area. And then the developer behind the Quarters project, not getting approval in round one this fall, then puts their resources into another project somewhere else and then potentially federal money is left on the table because more projects in the priority area didn't come forward.
On a different note, if the fund is over subscribed, I wonder if the city could get a few more million from the feds. The # of housing permits across Canada is not meeting targets in Ontario/BC so it would be nice to put more of that money here if demand is there.
IanO
Superstar
^150 max.
TAS
Senior Member
Thanks!
So I guess probably looking at minimum of 4 projects for this money and maybe 6-7.
IanO
Superstar
I'd say 4-5, but it's exciting to see this push a few forward and deliver some housing more rapidly.
MacLac
Senior Member
Hopefully ALL of them are concrete high-rise construction and not 5 storey wood framers......that receive this incentive
Markyeg
Active Member
If a 5-6 storey wood frame is needed to add residential to the Quarters I’d be ok with that.
MacLac
Senior Member
Quarters yes indeed, anywhere else will be a shame
David A
Senior Member
Actually I would prefer if we not become like some other places where you look out of your window into the windows of another high rise.
So I am fine with a mix of 5 to 6 storey buildings and taller ones, as long as the smaller ones are well designed and have some good interaction with the street.
So I am fine with a mix of 5 to 6 storey buildings and taller ones, as long as the smaller ones are well designed and have some good interaction with the street.
CplKlinger
Senior Member
Coming to Executive Committee: A sole-source agreement (funded by the Infill Infrastructure Fund) for EPCOR to upgrade downtown electrical infrastructure to support seven(!) residential projects totalling ~1,300 units(!!!). Three projects are currently under construction, and four are proposed.
