Federal loan supports Sault apartment development
The federal government is providing a low-interest loan of $25 million for new rental units in downtown Sault Ste. Marie.
The funding will flow through the government’s Apartment Construction Loan Program, which is aimed at increasing rental stock across the country.
A ground-breaking ceremony was held Friday at 110 Pim St., but construction of the apartment complex began late last year.
The city granted approval for the project in 2020, days before the first COVID-19 lockdown went into effect. With construction now in full swing, Mayor Matthew Shoemaker said the development will transform downtown.
“The greatest deterrent to the type of things that make people feel unsafe in the downtown is having more people down here,” Shoemaker said.
“And when you bring lots of people downtown, it creates a vibrancy and a feeling of security that, simply, foot patrols and police presence cannot ever do.”
“The impact on downtown is going to be absolutely fantastic,” said Coun. Lisa Vezeau-Allen, who represents the downtown ward.
“People need to go buy groceries, they need to go grab coffee, they need to go have lunch. It’s going to be more activation in the downtown. It’s going to be a beautiful spot. I can only see positives happening from this.”
Sault Ste. Marie Liberal MP Terry Sheehan said Friday’s announcement is one of many.
“The Legion project, transitioning schools to housing, a number of Indigenous housing projects, this one, and there’s more that I’m working on, and I want to continue to support this growth that we have seen in Sault Ste. Marie, this economic growth,” Sheehan said.
The six-storey building will feature 108 rental units for families and individuals. It’s expected to be finished in Spring 2025.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6979388.1722030190!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
Celine Dion delivers stirring comeback performance at Paris Olympics opening ceremony
Against the rainy Paris night sky, Celine Dion staged the comeback of her career with a powerful performance from the Eiffel Tower to open the Olympic Games.
Jasper wildfire: 'Several weeks' before residents can return, premier says
Premier Danielle Smith said Friday afternoon in Hinton while weather conditions are cooler, the Jasper fire is still considered out of control and that Jasper residents can expect to be away from their homes 'for several weeks.'
Missing 3-year-old boy found dead in creek in Mississauga, Ont.: police
A three-year-old boy has been found dead a day after he went missing in a park in Mississauga, Ont., Peel police say.
Irish museum pulls Sinead O'Connor waxwork after just one day due to backlash
An Irish museum will withdraw a waxwork of singer-songwriter Sinéad O'Connor just one day after installing it, following a backlash from her family and the public, it told CNN in a statement on Friday.
Winnipeg senior's account overdrawn for $146,000 water bill
A Winnipeg senior is getting soaked with a six-figure water bill.
FBI says Trump was indeed struck by bullet during assassination attempt
Nearly two weeks after Donald Trump’s near assassination, the FBI confirmed Friday that it was indeed a bullet that struck the former president’s ear, moving to clear up conflicting accounts about what caused the former U.S. president’s injuries after a gunman opened fire at a Pennsylvania rally.
Driver charged after flashing high beams at approaching police
Orillia OPP arrested and charged a driver with impaired driving after flashing their high beams.
Turpel-Lafond won't sue CBC over Cree heritage report that took 'heavy toll': lawyer
The lawyer for a former judge whose claims to be Cree were questioned in a CBC investigation says his client is not considering legal action against the broadcaster after the Law Society of British Columbia this week backed her claims of Indigenous heritage.
Major Canadian bank experiences direct deposit outage on payday
Scotiabank says it has fixed a technical issue that impacted direct deposits on Friday morning.