SUMMERSIDE, P.E.I. — A big housing growth is coming to the previous Holland Faculty property in Summerside.
Pan American Properties has introduced plans to construct an 89-unit condo complicated on the former commerce faculty website. The brand new constructing will embrace 47 inexpensive housing models and 42 market models, the majority of which shall be two-bedroom flats.
Pan American Properties is partnering with non-profit group Kings Sq. Housing to construct the power by way of an settlement with the P.E.I. Housing Company.
Tim Banks, CEO of Pan American Properties, mentioned Summerside Mayor Basil Stewart introduced ahead plans for the event with assist from councillors Brian McFeely and Barb Ramsay.
Beforehand introduced plans for the positioning of the previous commerce faculty embrace a brand new $23-million-dollar well being middle and a brand new hearth corridor.
Stewart famous that the initiatives will present development jobs and spin-off initiatives for corporations within the space and assist sort out town’s housing scarcity.
“Metropolis council and workers have labored laborious to deliver this whole challenge into fruition, and we’re excited to see $60 million in capital funding on this website coming collectively,” Stewart mentioned.
Invoice Campbell, president of King Sq. Housing Company, mentioned he was happy to companion with the non-profit to assist ship much-needed housing to town.
“We welcome the chance to develop and assist with housing options within the Summerside market.”
Banks famous website work on the challenge is anticipated to start out quickly. The constructing is anticipated to be prepared for occupancy in March 2024.