The City of St. Catharines wants to hear from residents on the establishment of a Municipal Development Corporation. The initiative aims to harness surplus real estate assets for community benefit and support the City’s housing development goals.
Proposed as a strategic initiative under the City’s successful application for funding from the Canada Mortgage and Housing Corporation’s Housing Accelerator Fund, the MDC seeks to unlock additional value from the City’s surplus real estate assets. A $25.7-million grant was awarded in January, and officials say the city remains dedicated to implementing initiatives to increase the housing supply in St. Catharines.
The MDC would be a separate corporation fully owned by the City of St. Catharines. It would have the ability to collaborate with the private sector to maximize the value of the City’s property assets and enhance marketability and demand. The MDC’s mandate would focus on community renewal efforts through strategic land marketing, enhancement of surplus land assets, and strategic acquisitions for redevelopment.
Residents are invited to participate in a public information session to learn more about the MDC’s mandate, the City’s goals, ask questions, and share their thoughts on Monday, May 6, from 3 p.m. to 6 p.m. at City Hall.
Residents can also provide written feedback by dropping off or mailing comments to:
Municipal Development Corporation Liaison, Economic Development
50 Church Street, P.O. Box 3012
St. Catharines, ON L7R 7C2
For more information and to submit questions or comments online, visit engagestc.ca/MDC.
Written by Chuck Lafleur
