Plan would see 62 affordable housing units built in New Sudbury

According to a report headed to the city’s finance committee next week, the proposal is to build 62 affordable housing units at the former Ernie Checkeris school site. (Supplied)

A developer is seeking to access $1.23 million from the federal housing accelerator fund to help build 62 affordable housing units at 1570 Agincourt Ave. in Sudbury.

According to a report headed to the city’s finance committee next week, the proposal is to build the units at the former Ernie Checkeris school site.

To be eligible under the city’s community improvement plans, the project must include three or more units offered at or below market rents.

“All 62 units are proposed to be affordable, meaning rent will be at or below average market rent,” the report said.

Federal funding for housing

The developer is seeking $20,000 in funding per unit, or $1.23 million, more than the maximum amount under the community improvement plan program.

However, with the federal program, the limit may be exceeded for projects that include 10 or more units as long as the subsidy doesn’t exceed 50 per cent of the project’s overall budget.

In this case, the total project budget is $32 million.

Read the full report here.