Average Home Price In Peterborough Reaches All-Time High
/The average home price in Peterborough city and county in March reached $864,208, a new all-time high, according to the Peterborough and the Kawarthas Association of Realtors.
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Peterborough Blogs
Average Monthy Home Price In Peterborough Hits A Record $814,495 In January
/The average monthly home price in the City of Peterborough surpassed $800,000 in January, for the first time ever.
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The average price of homes sold in January $814,495 which is up 21.9 per cent from January 2021.
The Peterborough and the Kawarthas Association of Realtors reported that 80 homes were sold in January 2022, down 20 per cent from January 2021.
There were 120 new residential listings in January which is the lowest number of new listings added in the month of January in more than 35 years, the association reported.
The association also reported that the 78 active listings left at the end of the month were down 22.8 per cent from a year ago and the lowest in more than two decades.
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Housing Stability Fund And Rent Supplement Program Update
/Starting Jan. 1, 2022, the Housing Stability Fund and Housing Choice Rent Supplement programs will be available through Social Services with the City of Peterborough, rather than at the Housing Resource Centre as previously administered.
People who receive Ontario Works (OW) or Ontario Disability Support Program (ODSP) are not affected by the changes to the Housing Stability Fund administration as they can already access the program through Social Services.
This change will impact individuals who:
receive a Housing Choice Rent Supplement; or
access emergency financial assistance to prevent homelessness or to move into housing and who do not receive OW or ODSP.
For more information and to review frequently asked questions click here.
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Over $6 Million Raised For More Housing At The Mount Community Centre
/After a concerted effort from the community, The Mount Community Centre has raised $6,272,755 towards building more affordable housing units announced on Sunday.
Photo Courtesy of The Mount Community Centre.
The money was raised through their Building Opportunity Campaign that was seeking a goal of $4 million for the 10-acre property. All of the funding was done through the volunteers.
Beavermead Construction was the company tasked to do the building however over 200 volunteers have done the painting, furnishing and landscaping.
Since August, 63 housing units have already been developed since 2013.
The units already contain several amenities such as a food centre, office space, public venue space and the Fulcrum Café.
Former Religious Residence Converting Into Housing With Community Help
/The former Mount St. Joseph’s complex is being renovated into housing units by The Mount Community Centre (MCC) with help from more than 200 volunteers.
Former Winnipeg resident Andi van Koeverden (pictured) has completed her Bachelor of Education Degree at the University of Manitoba. She is a member of the Rotary Club of Peterborough. Photo by David Tuan Bui.
The 10-acre property was purchased back in 2013 and is a $4 million campaign to fully complete construction, all backed by volunteers.
It is being built by Beavermead Construction however work such as painting, furnishing or landscaping is done through volunteers.
This is the building’s final phase of construction where 63 housing units have already been developed since 2013. Construction this fall will add another five housing units and project completion will total 74 residential units.
Andi van Koeverden, MCC Director of Strategic Advancement acknowledges the affordable housing problem that has been a complaint by several Peterborough citizens and believes this is another step towards reliving that issue.
“In 2014, the City and Counsel committed to building 500 affordable units in 10 years,” she said. “We have added 63 units to that count. That is quite substantial.”
The units already contain several amenities such as a food centre, office space, public venue space and a café (currently closed due to COVID-19).
The following is where the money is being invested:
$2,665,000 Centre & North Wing Renovations
$710,000 Food Centre
$500,000 Sustainability Fund
$125,000 Grounds & Gardens
The Peterborough Poverty Reduction Network opted to turn the property into affordable housing back in 2011 according to van Koeverden.
“This group was looking at acquiring a building of some kind and turning it into affordable housing and a food centre,” she said. “They turned the ownership over to the Mount Community Centre Board of Directors who managed the redevelopment from then on.”
The MCC is continuing to seek donations and projects to finish construction within the next two years according to van Koeverden.
Donations to the construction campaign can be found here. You can also volunteer by calling 705-875-5095.
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New Downtown Lofts Constructed From Old YMCA Building
/The old YMCA on the corner of George Street and Murray Street has finally been converted into upscale loft apartments in a private showing on Thursday.
Hans Jain, Atria president (far right) with staff members at The Black Horse Pub with the new YLofts building. Photo by David Tuan Bui
The lofts known as Y Lofts are owned and built by the Toronto-based company Atria, a development corporation. Hans Jain, Atria president along with staff hosted tours to media and community members with a luncheon at The Black Horse Pub.
Terry Guiel, Downtown Business Improvement Area executive director praised Jain for respecting and honouring the history of the city with YLofts. The building named several room models after familiar Peterborough names such as Chemong, Algonquin and Kawartha.
"They've done their research and show us that they care about this community," he said. "They're not coming in and saying, 'we're a big Toronto firm and come jump on us', they're saying, 'we want to be a part of your community.’"
YLofts occupy the old YMCA location which was first built in 1896. Photo by David Tuan Bui.
Councillor Henry Clarke showed his appreciation of the new lofts as it gives easy accessibility to several downtown amenities while revitalizing the area.
"The downtown is the economic engine of the city," he said. "To see this whole section come back to life, it's wonderful."
The Y Lofts range from $1,650 to $2,550 a month. The residence features a courtyard, gym, rooftop patio and communal barbeques as some of several available amenities included in the rent.
Atria has already begun accepting new tenants to be moved in on Sept. 1.
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Federal Government Is Financing $8.5 Million To Help Construct 3-Storey Rental Unit In Peterborough
/Maryam Monsef, MP for Peterborough-Kawartha, announced that the federal government is financing $8.5 million to help construct a three-storey, 27 rental unit building located at 888 Whitefield Drive in Peterborough.
The 888 Whitefield Drive development by Parkview Homes is receiving financing through the Government of Canada’s Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by CMHC that supports rental housing construction projects. The program encourages a stable supply of rental housing for middle-class families struggling in expensive housing markets.
Maryam Monsef making announement on Livestream Friday, February 5th, 2021
Since 2019, the Government of Canada has now invested nearly $25 million to build housing in Peterborough-Kawartha with other projects at the Brock Mission, Habitat for Humanity Peterborough, and Water Street.
That is in addition to prior housing investments for projects at The Mount Community Centre, Ontario Aboriginal Housing Services, and Peterborough Housing Corporation’s McRae project.
“COVID-19 has reminded us that nothing is more important than a home,” says Monsef. “As we all do our part to contain the spread, homes have become a sanctuary—a place of safety and refuge in challenging times. Today’s announcement means more than $30 million has been invested by the Government of Canada to renovate, subsidize and build 1,600 housing units in Peterborough-Kawartha. That’s 1,600 families with a safe roof over their head, 1,600 families who get to live, grow, and excel in this community we are all fortunate to call home. And there is more to come.”
“Peterborough has a significant need for more safe and accessible housing,” adds Mayor Therrien. “I would like to thank MP Monsef for her work to push this project forward, as well as CMHC and Parkview Homes for their commitment to providing secure, energy efficient units that meet the needs of our community.”
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MP Monsef Announces $7.6 million To Build 25 Rental Units For Peterborough Families
/MP Maryam Monsef has announced that the federal government is financing $7.6 million to help construct 25 residential units located at 3789 Water Street in Peterborough.
The development includes a unique partnership with Kawartha Participation Projects (KPP), who will provide management of the building.
Patrick Cooper, CEO, Kawartha Participations Project, and Maryam Monsef, Member of Parliament for Peterborough-Kawartha, on-site at 3789 Water Street in Peterborough where 25 residential units are being constructed.
KPP provides housing services and supports to people with physical disabilities living in Peterborough, Kawartha Lakes, Haliburton and Northumberland. Five units in the development have been earmarked for KPP clients and will be designed to meet the accessibility needs of tenants.
The development at 3789 Water Street by Greenleaf/Cor-Plan is receiving financing through the National Housing Strategy’s Rental Construction Financing initiative (RCFi), one of the many NHS programs being delivered by Canada Mortgage and Housing Corporation (CMHC). The RCFi supports the creation of new rental housing projects to encourage a stable supply of rental housing.
“The need for housing in our community was great before COVID, and it’s only increased since,” says MP Monsef. “We need innovative partners and solutions to address the housing needs in our community and projects like this one do just that. This partnership with KPP represents the Government of Canada’s continued commitment to investing in both accessible and affordable housing here in Peterborough-Kawartha.”
“Peterborough has a great need for all types of housing,” adds Peterborough Mayor Therrien. “Solving our housing challenges requires innovative solutions and cooperation from all levels of government, as well as private partners. The funding through CMHC will add 25 residential units to our housing stock and will increase density in the North end of our city.”
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More Affordable Housing Within Reach As Construction Kicks Off On Largest Habitat Peterborough Build To Date
/More decent, affordable housing is within reach in Peterborough as Habitat for Humanity Peterborough & Kawartha Region is excited to be kicking off its largest build project to date.
“We are aware that many people in our community are in need of decent, affordable housing and we are advocates for the solution,” says Sarah Budd, CEO for Habitat for Humanity Peterborough & Kawartha Region. “That’s why, unlike our previous build projects, the Leahy’s Lane development is not just for families but open to singles, couples, seniors, and families.”
Located at 33 Leahy’s Lane in Peterborough, the three-storey, 41-unit condo development will consist of a mix of one-, two-, and three-bedroom affordable condos. It will offer an elevator and a fully universal design which will accommodate current or future homeowners’ accessibility needs. Each condo will include appliances and in-suite heating and air conditioning control. In addition, the condos will be energy efficient—making it even more affordable for homeowners.
Photo courtesy Habitat Peterborough
