New Fredericton development makes use of city incentive for affordable housing
Eight-unit apartment building will include two affordable units
Rezoning for a new three-storey, eight-unit apartment building with two affordable units on George Street passed first and second reading at Fredericton city council Monday night.
The city allowed developer MHM Property Management to add an extra unit as a bonus for including affordable housing in the development just east of Smythe Street.
"We have a couple of bonus projects that if developers include affordable housing in their development, we will give them some density bonuses, which means we'll allow them to build more units on a lot than normal," said Mayor Mike O'Brien.
"We need more affordable housing in this city. So that's an incentive for the developer to be able to build eight units on it on a piece of land that sometimes might only accommodate six or seven."
O'Brien said that's dependent on the affordable units getting funding from the province's affordable housing program.
"And from what (the developer) said, all indications are that he will get the funding in order to provide those two units," said Marcello Battilana, the city's manager of community planning.
The new build will replace the two-storey, five-unit building that is currently on the site.
Battilana said there are plans to "beef up" the city's incentive package it offers developers for affordable housing.
"It's the next logical step. We got some traction. … But now we're going to take it to what can be arguably a much higher level," he said.
The development will be voted on for final approval on March 8.