Ontario Building More Affordable and Supportive Housing in Peterborough

Provincial investment will support vulnerable people in the community

October 11, 2023

Municipal Affairs and Housing

Table of Contents

  1. Content
  2. Quick Facts
  4. Additional Resources
  5. Related Topics

PETERBOROUGH — The Ontario government is providing an additional $177,958 through the province’s Homelessness Prevention Program to help create housing units at Hunt Terraces in Peterborough for seniors and people experiencing homelessness. This funding is in addition to over $1 million in new funding provided to the project in partnership with the Government of Canada.

Hunt Terraces is a six-storey building located at 555 Bonaccord Street. It has 85 units in total, including one and two-bedroom units. Health and housing support will be provided to residents onsite through community partners such as the Victorian Order of Nurses. Residents will have access to public transit as well as amenities such as laundry facilities, a common room, onsite parking, and a dining room with meal options.

“Our government is taking action to ensure Peterborough’s housing needs are met, with historic levels of funding in housing and homelessness prevention that recognizes the city’s unique needs,” said Paul Calandra, Minister of Municipal Affairs and Housing. “Supportive and affordable housing ensure our most vulnerable have access to housing that meets their needs, a critical component of our commitment to build at least 1.5 million new homes by 2031.”

The provincial funding was announced on behalf of Minister Calandra by Peterborough-Kawartha MPP Dave Smith. In partnership with the Government of Canada, the Ontario government is also providing over $1 million through the Ontario Priorities Housing Initiative (OPHI) to support development of Hunt Terraces. The Governments of Ontario and Canada previously announced $2.4 million for this project through the Canada-Ontario Community Housing Initiative (COCHI), bringing the total joint federal-provincial investment to more than $3.4 million.

The provincial and federal governments are also investing over $854,000 through OPHI to help create six affordable housing units at 681 Monaghan Road in Peterborough. The new six-storey affordable housing development will include 53 units – 37 one-bedroom, 11 two-bedroom and five three-bedroom units.

“Our government made a commitment to the people of Ontario to get the full spectrum of housing built, and that includes accessible and affordable housing,” said MPP Smith. “Today’s announcement ensures that people in our community have access to affordable housing that provides a safe and supportive environment.”

The Ontario government is investing an additional $202 million each year in its homelessness prevention programs – the Homelessness Prevention Program (HPP) and Indigenous Supportive Housing Program (ISHP) – bringing the province’s total annual investment to close to $700 million. This includes an increase of nearly $2.5 million through the HPP for the City of Peterborough.

Quick Facts

  • The City of Peterborough was allocated $8,801,710 through all phases of the Social Services Relief Fund (SSRF) to deliver critical services such as shelters, food banks and emergency services. SSRF provided over $1.2 billion of support throughout the COVID-19 pandemic, to help municipal service managers and Indigenous program administrators create longer-term housing solutions and help vulnerable people in Ontario, including those who are homeless or at-risk of homelessness.
  • Through HPP, service managers have the flexibility to allocate provincial funding to programs and services that address and prevent homelessness in their communities, such as rent supplements, homeless shelters, and supportive housing including capital projects.


“The City of Peterborough has a housing crisis. We have a vacancy rate of 1.1%, lowest in Ontario today, and our average rent ranks 10th highest in Canada. This announcement is a significant first step in addressing the housing pressures our residents are facing. I want to thank the Government of Canada and the Government of Ontario for their support, and our local MP Michelle Ferreri and MPP Dave Smith for their tremendous advocacy for this project. By working together, we will keep building a better tomorrow.”

– Jeff Leal
Mayor of Peterborough

“The funding announcement by CMHC and the Government of Ontario will allow the City of Peterborough and our housing provider Peterborough Housing Corporation to move forward on meeting and supplying much needed housing.”

– Keith Riel, Ward 4 Councillor
City of Peterborough

Additional Resources