BRANTFORD, ON, Dec. 7 /CNW/ - The Cordage Lofts, on Sherwood Drive,
celebrated the official opening of 28 new affordable rental apartments for
lower-income individuals in the Brantford area.
The federal government provided $672,000 through Canada Mortgage and
Housing Corporation's (CMHC) Residential Rehabilitation Assistance Program to
convert an existing warehouse building into new affordable apartments. CMHC
also committed an interest-free proposal development loan of which a portion
has been forgiven.
"The Government of Canada is committed to helping create new affordable
housing in Ontario and across Canada for those who need it most," said David
Sweet, Member of Parliament for Ancaster-Dundas-Flamborough-Westdale, on
behalf of the Honourable Monte Solberg, Minister of Human Resources and Social
Development. "Cordage Lofts will provide quality, affordable rental housing
for lower-income individuals in Brantford, and help them build a better and
"The City of Brantford is once again pleased to have had the opportunity
to work with Chris McNabb owner of King Street Holdings (KSH) Ltd. on this
affordable housing development. KSH converted a very unique shaped building
into 28 beautiful units that is a welcomed addition to the rental stock in
Brantford," said Mayor Mike Hancock. "The City of Brantford continues to work
in harmony with developers who are able to assist us in achieving our
"The Cordage Lofts is a conversion of a quality character building that
might have otherwise been lost," said Christopher McNabb, President of King
Street Holdings Limited. "We have built a wonderful new and unique home for
deserving people in Brantford thanks to the assistance of CMHC and the City of
King Street Holdings has built more than 400 apartments in partnership
with CMHC and various communities. With a focus on providing quality,
affordable housing their continued efforts are highlighted in the recent
completion of The Cordage Lofts project in Brantford.
The conversion component of CMHC's Residential Rehabilitation Assistance
Program provides assistance to convert non-residential properties into
affordable self-contained rental housing units or bed-units.
As Canada's national housing agency, CMHC draws on over 60 years of
experience to help Canadians access a variety of quality, environmentally
sustainable, and affordable homes - homes that will continue to create vibrant
and healthy communities and cities across the country. For more information,
visit www.cmhc.ca or call 1-800-668-2642.
For further information:
For further information: Carlene Siopis, Canada Mortgage and Housing
Corporation, (416) 529-2710; Christopher McNabb, King Street Holdings Limited,