Province investing $414K for 9 affordable housing units in Summerside

The P.E.I. government is investing $414,000 through itshousing action plan for the private development of nine new affordable units for seniors and families in Summerside.

In a release, the province said it is contributing a construction grant to the developer, Park Place Meadow, as incentive to create the affordable units, which will be located on Pope Road.

In addition, the province will offer a 12-year operating agreement and a rent supplement agreement to ensure the units remain no greater than 25 per cent of a tenant's income.

The province said the nine units are among 1,200 new affordable units being created across P.E.I. over the next two years, and will expand the existing inventory of 1,600 provincial government-owned affordable units. The government said it also has more than 700 rent supplement arrangements with private landlords across the province.

The province said it will make further affordable housing announcements in O'Leary and Alberton on Friday.

On Wednesday, the province announced it was contributing $625K toward 25 new Habitat for Humanity homes.

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