SUMMERSIDE, P.E.I. - There could be a new affordable housing unit coming to Summerside, with the development of the former Holland College building.
During a recent city council meeting, Mayor Bill Martin reported that a developer was looking to repurpose the property for affordable housing.
“It’s a property the city has been concerned about. It’s abandoned. It’s in need of repurposing and, needless to say, … we’re pretty excited about the prospects.”
Tim Banks, CEO of APM, owns the property. He is also the developer interested in repurposing the property.
When the Journal Pioneer reached out for comment, Banks declined.
Martin says there are no asbestos or other pathogenic concerns.
“Our understanding is the only asbestos issue is in the roof, and it does not cause an issue unless it’s disturbed, and they don’t plan to disturb it. The portion of the building that will be renovated is the part that fronts Granville Street, so it won’t be an issue.”
Affordable housing is one of the most difficult things for cities to obtain, he noted.
“We’re not unique, we’re not alone, but certainly there are all kinds of people who would love to be looking at affordable housing, particularly brand new apartments.”
While there have been no deals signed, the parties are exploring all options for funding both at the federal and provincial level.