Two affordable housing buildings in the works by Canadian Mental Health Association
The Canadian Mental Health Association (CMHA) is looking to build two buildings for affordable housing in the city.
The smaller 25-unit structure will come out to about $2 to 3-million and is set to be built within the next two years. Finance Coordinator with the association Pamela Foley says they have about three years left on the mortgage for Willow Place which also has about 25-units. The land that the building sits on was donated by the City of Grande Prairie.
“Going into a new build, we would like to own the land giving us a bigger asset base to leverage from. All of our builds will be self-sufficient. We have built in contingencies to build seed money for the next. We will start with the smaller one and hopefully build up enough to get into the bigger building with our 10 to 15-year plan,” Foley said.
The land that Willow Place is on would need to be signed over to the organization by the city.