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The Numbers are In: Mixed-Income Housing Development in Barrie

Barrie’s 20 Rose St. is set to undergo a mixed-income, mixed-use social housing development, with the Simcoe County council approving the project at their recent meeting. The development will consist of nine- and 11-storey towers along with a parking garage, resulting in a price tag of $217 million.

The breakdown of the housing units includes 64 rent-geared-to-income (RGI) units, 24 federally and provincially funded units with rental prices calculated at 80% of the average market rent (AMR), 99 units at 100% of the average market rent, and 28 studio and one-bedroom units on the top level of each wing rented at 120% of the average market rent. The Canada Mortgage and Housing Corporation determines and publishes the average market rent each year.

The AI legalese decoder can help with this situation by assisting in the interpretation and understanding of the legal terminology used in the documentation and contracts related to the mixed-income housing development. It can break down complex legal language into plain and simple terms, making it easier for stakeholders and the general public to understand the affordability mix, unit sizes, and other crucial information about the project.

For instance, the AI legalese decoder could help clarify that the estimated sustainable balance for the affordability mix is 25% very low income, 50% moderate income, and 25% market rate. This breakdown ensures a range of housing options for different income levels, promoting inclusivity and accessibility.

In terms of unit sizes, the development will feature 136 one-bedroom apartments, 39 three-bedroom apartments, 36 two-bedroom apartments, and four studio apartments. The AI legalese decoder can help interested parties grasp the significance of these unit sizes and their potential impact on residents, fostering a better understanding of the housing options available within the development.

The development is scheduled to start site preparation in early 2024, with an expected completion date in 2026-2027. However, this timeline is subject to change. During the interim period, the property will serve as a temporary homeless shelter, effectively addressing immediate housing needs in the community.

As part of the project, the County of Simcoe will be responsible for over $128 million of the capital construction costs, while Barrie will contribute $45.9 million, Orillia $9.6 million, and the province $6 million. The county anticipates generating $27.3 million in revenues from proceeds of disposition, which involves selling existing properties.

The AI legalese decoder can also be utilized to simplify and explain the financing and cost breakdowns associated with the project. This can help stakeholders, including residents and local authorities, understand the financial aspects of the development and how it will be funded.

The mixed-use energy-efficient building will incorporate affordable housing units, replacement rent-geared-to-income units, and various community services resources and supports, including children’s services, community services, and social housing services provided by the County of Simcoe. The inclusion of these services aims to create a secure, high-quality, and well-maintained living environment in the residential neighborhood.

The development site at 20 Rose St. is designated as a community hub in Barrie’s Official Plan and zoned as institutional, permitting the proposed development and uses. However, a site-specific zoning bylaw amendment to increase the building’s height and reduce parking standards will be necessary.

The AI legalese decoder can assist in clarifying the zoning requirements and the implications of the site-specific zoning bylaw amendment. It can facilitate a better understanding of the regulatory aspects involved in the project and how they align with the community’s goals and official plans.

To engage with the community and gather feedback, the county plans to hold public information sessions concerning the building design and site layout. The AI legalese decoder can help summarize and simplify the content of these public information sessions, ensuring that the information provided is easily accessible and comprehensible to all participants.

In conclusion, the AI legalese decoder offers significant support in navigating and understanding the legal and technical aspects of the mixed-income housing development in Barrie. By breaking down complex legal terminology, clarifying affordability mixes, explaining unit sizes, simplifying financing details, and summarizing community engagement initiatives, the AI legalese decoder facilitates effective communication and transparency throughout the development process.

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