The Federal Government is investing $25-million dollars into what is being described as stable, rental housing options in Tecumseh.
The low-cost construction loan was announced Tuesday morning by Windsor-Tecumseh MP Irek Kusmierczyk who calls the funding critical, adding the housing issue requires an "all hands on deck approach."
Peter Valente is the local developer awarded the project and says he's proud to be involved.
"[This is] My community where I was born and raised, my father started his business here over 50 years a go and it's been so good to us that if we can be part of something that helps not only me, but the community as a whole, that's a win-win-win," he says. "I'm very grateful to be bringing some affordable housing to Tecumseh."
Kusmierczyk says this is the first-ever partnership in our region between the Federal Government and a private developer, adding "Affordable housing is the foundation for a healthy and prosperous community in Windsor-Tecumseh and it is a basic human right."
Also speaking at Tuesday's announcement, Federal Minister of Families, Children and Social Development, Ahmed Hussen, says the money for the Tecumseh Gateway project is coming from a rental construction financing initiative.
The project includes a six-storey multi-residential building consisting of 99 residential units, with 14 of those units being one-bedroom units and the remaining 85 being two-bedroom units. The building will feature several amenities, including a gym and an outdoor landscaped area.
A minimum of 31 units will have rents affordable at or below 30 per cent household median income in the area.