It will still be some time before development begins
The federal government latest affordable housing announcement added 56 properties to a new public lands bank.
The properties, including former military bases, Canada Post sites, and federal office buildings, will be offered for long-term leases to keep them in public hands and ensure affordability.
Among the sites are two in Kingston: 440 King Street West and 525 King Street West.
The government’s move to lease these properties instead of selling them outright is expected to lower construction costs and, in turn, reduce the cost of living for Canadians.
The current list of properties spans 28 municipalities in seven provinces, with more to be added through an ongoing review of underused federal land.
Developers can now express interest or submit proposals for five of the sites.
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