July 29, 2017
City council will vote a final time on Monday to borrow $24.4 million to help develop a couple of apartment complexes on a single property – one for seniors and the other for single mothers and their children.
The buildings will be on Bonaccord St. The plan is to convert the McRae building – the empty Fleming College trade school – into 38 apartments for single moms and their kids.
In addition, a new six-storey building will be constructed on the large gravel parking lot of the McRae building; it will have 81 apartments for seniors. The two buildings will be connected by breezeway.
Peterborough Housing Corporation (PHC) – the city and county’s largest social housing provider – will operate the homes. The city is the sole shareholder of PHC.