DNSSAB: $3.5M from land sale will go toward affordable housing

The Nipissing District Housing Corporation (NDHC) is announcing the sale of a severed portion of the former Dr. McDougall property, located at 1040 Brookes St., for $3.5 million.

The proceeds from the sale of the former school and surrounding land will go toward affordable housing development in Nipissing District, says the Nipissing Social Services Administration Board. NDHC falls under the purview of DNSSAB. 

The purchaser of the property is 100092727 Ontario Inc. and NDHC maintains ownership of the adjacent severed property to the west for future affordable housing. The operations of the North Bay Indigenous Hub will continue under the current 15-year lease agreement. The North Bay Indigenous Hub provides early years and child care services as well as Indigenous primary health care services.

“Creating additional affordable housing in Nipissing District has been a key strategy for the NDHC Board during its last term and continues into the new term. The proceeds of the sale free up $3.5 million in capital funds to invest and/or leverage other funds. Together with DNSSAB, we will see additional and much-needed affordable housing,” says NDHC Board Chair Chris Mayne.

See related: Growth update pivots to discussion on local affordable housing shortage

DNSSAB Board Chair Mark King states both the DNSSAB and NDHC Boards have been working together to find solutions to the affordable housing shortage. “This sizable investment will have a considerable impact on future plans.”

The rezoning of the Brookes Street property was approved by North Bay City Council in 2022. The City of North Bay has created two separate properties — one for the Indigenous Hub and a vacant site suitable for additional and future affordable housing development. Following a stalled housing project at that site, NDHC shifted gears, deciding to sell.

King said last week the housing shortage has been lowered to 201 units by the provincial standard and he is certain that number will drop as NDHC and DNSSAB make use of the funds generated from several real estate transactions, including Brookes Street and the sale of a surplus building on Main Street West. The estimated waiting list for subsidized housing in Nipissing District has surpassed 900 people, with wait times of between one to 15 years, depending on the client's housing needs and desired location, with priority given to those seeking refuge from domestic violence.

King added, "Thanks to our work over the past few years through our housing authority to put together surpluses and reserves, I think this new board has been well-positioned financially to leverage those funds into what I would consider a major social housing build."