Simcoe County endorses $186M plan to create nearly 180 affordable rentals on Rose Street in Barrie
Simcoe County Council voted Tuesday to endorse a $186 million plan to create a 176-unit mixed-use building at the Barrie Rose Street location.
In a release, officials said the "significant investment" by the County would provide homes for "deserving families, seniors and individuals."
"County Council once again demonstrated our commitment to building up our communities and investing in long-term, sustainable solutions," said Warden Basil Clarke.
But with a $186 million price tag, the cost to build each unit breaks down to just over $787,000, which includes a new parking structure at $18 million alone.
The remaining amount accounts for future maintenance costs the County is choosing to pay in advance.
"Council wants to ensure that we're making the biggest impact possible as we forge ahead and use this build as a foundation for our next 10-year regional housing strategy," he added.
Officials noted this development would include mixed housing types, including rent-to-geared income and affordable housing.
With this approval, the County expects that site preparation will begin in early 2024, with an estimated completion date in 2026-2027.
With files from CTV's Christian D'Avino
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