$650,000 in funding has been awarded by the Province to help develop a mixed rental housing complex at the former high school
Wednesday, February 3rd, 2021 - Yarmouth, N.S. – The Town of Yarmouth received great news earlier today from Nova Scotia’s Department of Municipal Affairs and Housing. The Town received word that $650,000 will be provided by the province to help fund the development of affordable housing within the town. The funds will be used for the development of a mixed rental housing development at the site of the former Yarmouth High School at 52 Parade Street.
The proposed development at the former school was first introduced to Council in 2018 by developers Paul Underhill and John Hannam. The plan for the vacant school would eventually see the creation of 54 total units. Of those 54 units, 27 would be dedicated as affordable units and receive the $650,000 funding for their construction. In addition to providing the property to the developers, the Town will match the province’s $650,000 toward the project.
While acknowledging there is still plenty of work to do before construction can begin at the site, the developers were happy to hear today’s news from the province.
“We are excited that the Town of Yarmouth and NS Housing are supporting our project that will repurpose the old Yarmouth High School. Today’s announcement gets us closer to our goal of 54 residential rental spaces, with 27 of them dedicated for affordable units.”
Mayor Pam Mood was equally excited and believes the Town has now passed a major step in the process toward establishing affordable housing options.
“This is an exciting day for Yarmouth,” said Mood. “Developing affordable housing has been a top priority of Council and this funding meets a major milestone for the project. The Town entered new territory by matching the Provincial funds with our $650,000 to double the impact as Council and staff know how very important housing is. ”
Minister Zach Churchill added, “On behalf of our government, I’m thrilled to announce that the Province will be investing six hundred and fifty thousand dollars toward new and high quality affordable housing units in Yarmouth. We know that more affordable housing units are needed in this area and this investment will ensure that more of our residents will have access to brand new apartments that they can afford. It’s also great to see that the old high school will be repurposed for this project.”
Additional work will now be carried out to finalize plans and work toward a purchase of sale agreement. While all parties involved hope to see shovels in the ground soon, there is no specific timeframe set for construction to begin or for completion of the project.
The Development agreement which details plans for the new housing complex is on our website HERE.