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  • City and Marguerita Residence Corporation Celebrate Conclusion of Funding Arrangement

    City and Marguerita Residence Corporation Celebrate Conclusion of Funding Arrangement

    Posted: Friday January 24, 2025

    In November 2022 City Council unanimously approved a construction loan of $17 million to the Marguerita Residence Corporation who were having some difficulty securing financing for their 88-unit housing project on Garden Street in Brockville, site of the former St. Vincent de Paul Hospital.

    Now that the building is constructed and occupied, we are pleased to share that the Marguerita Residence Corporation has secured their conventional mortgage for their property and have repaid the loan in full, including all costs.

    City Council are proud to have supported this project which has secured an increase of seniors housing in the City.

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