St. Thomas takes control of new apartment building to combat housing crisis

New apartment helping St. Thomas housing issues A new apartment building in downtown St. Thomas is offering affordable rental options for seniors. CTV London's Sean Irvine reports.

St. Thomas is touting another breakthrough in its approach to affordable housing.

A 24-unit senior apartment building has opened on Flora Street downtown.

Initially, a private company was set to manage it, but that’s when the city stepped in.

It is good news for Dave Horton, who moved from nearby Rodney, Ont. just three weeks ago.

Horton had been paying $2,000 in rent. Now, it’s less than half that.

“I'm 71 years old and I'm on a very small pension now by myself. So, yeah, it made a big difference,” he said.

Horton’s story resonates with Mayor Joe Preston.

For years, he and other Ontario mayors have been struggling with existing methods to solve the housing crisis.

Then, suddenly, the project presented a partial solution.

It began when a local developer announced plans to develop 24 single-bedroom units next to a commercial district and Arthur Voaden Secondary School.

Each one comes with a washer/dryer, dishwasher, and kitchen island.

As construction began, St. Thomas officials presented a proposal to lease and manage the entire structure.

It is an approach that the mayor said will benefit everyone.

“The true answer is we found a middle sweet spot that allowed the developer to build the building, and do all the neat things that developers have to do, but still make a bit of money at the end of the day by leasing it to one tenant, us, The City of St. Thomas, rather than, them having to be the landlord for 24 different people in it,” said Preston.

Preston said the city has locked in long-term, “I think we're over ten years on our part of it, with of course, options to extend. We did this in a pretty solid way to make sure that we have it.”

That’s good news for Dave, as he prepares to settle in a retirement with less financial worry.

“This is the last spot for me. Everything is comfortable,” he said contently.