Florence Street development to bring 72 new housing units
Huntsville Council agreed to the Muskoka Land Trust Terms for Florence Street Development Project, in the January 27, 2025, meeting.
Last June Muskoka Community Land Trust (MCLT) board member, Ben Jardine, advised Council that they are currently in the CPP application phase of the project that will develop two 2 three storey multi-residential buildings, for a total of 72 units.
He added that grant funding includes $75,000 from the Investment Readiness program, and $48,571 from the Community Housing Transformation Centre.
Staff were directed to seek legal feedback from the Town’s solicitor regarding the development of a letter of intent, and there have been no issues expressed at this point with the terms outlined by the MCLT.
Staff also met with the MCLT to determine options for the land transfer and seek assurance from them should the transfer fail to go through. The MCLT created a proposal addressing Town requests and other matters which will be discussed prior to the transfer.
According to the staff report, “Initial discussions with the MCLT noted that the value of the lands should be considered at their assessed amount. Currently, the MPAC assessed value of the properties combined is approximately $1,000,000.00.”
To ensure an accurate estimate staff will also review the fair market value for the properties with the Realtor of Record.
Staff advised that studies still need to be completed and assurance that traffic and engineering will all work together. They added that phasing can take several years, however, each phase will be completed prior to beginning another.
Council members also discussed the ratio of units, with 40% deemed as affordable housing.
Mayor, Nancy Alcock, confirmed that the goal is the remaining 60% of units will be low end market rentals.
Staff will continue working with the MCLT and Town solicitor to finalize the transferred lands and develop a proposal and will report back with a framework for the land donation, letter of intent, and other items as required.
The staff report indicates that legal services will be funded through the Municipal Accommodation Tax reserve. It adds, “No funds have been budgeted to date for this project.”
