DESCRIPTION
Raising the Roof was the successful proponent of a Federal Lands Initiative for Affordable Housing RFP put forth by the federal government for the development of the CanadaPost building in downtown Orillia into affordable housing units. CanadaPost is currently the main floor commercial tenant with vacant commercial space available for redevelopment on the second storey and zoning in place to allow for up to 80 units on 4 floors. Raising the Roof is currently in early pre-development for this project, with development concepts ranging from 24 units to 60-80 units, subject to approval by the federal government and available capital funding. The property is owned by Raising the Roof with the CanadaPost continuing to lease the main floor space as the commercial tenant.
DETAILS
Property Id
Phase
Pre-Development
Affordability Framework
79% AMR
Target Completion Date
47299
Total Project Cost
$29,415,894
Total Units
79
Affordable Units
40
Populations Served
Homelessness
Project Funding
Funding Required
$10,359,299
Funds Raised
$1,921,750 all contributions and forgivable loans sources include the City of Orillia, corporate contributions, and multiple streams within CMHC.
Use of funds
Raising the Roof was the successful proponent of a Federal Lands for Affordable Housing building put forth by the federal government. It is currently operating as a CanadaPost in downtown Orillia with vacant commercial space on the second storey. It is our goal to redevelop the property into a 79 unit mixed use building with 40 units as affordable units for individuals and families experiencing or at risk of homelessness in the Orillia and Simcoe county.
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