After several months of behind-the-scene discussions, Rimoka Housing Foundation has announced plans to construct an 80-room $15.5 million affordable seniors’ complex in Rimbey.
Work on the proposed complex to be built on 8.54 acres of land purchased by Ponoka County for $310,000 south of the Best Western Rimstone Ridge Hotel is slated to begin next spring.
Board chairman Paul McLauchlin is pleased the project is moving ahead and happy the Foundation has opted for a large facility that will contain 80 rooms.
“In a town this size and a region of our size an 80-room facility will be a big benefit. It will be a regional hub for sure. I’m very excited.”
McLauchlin said the Foundation plans to contribute $3.5 million to the project.
“That is approximately a twenty per cent contribution,” he said.
The remainder of the project costs come from a $13.3 million grant made available through the provincial and federal governments.
Approximately $12 million of the grant has been earmarked for the new facility and the remainder of the funds will be used for remedial work to Parkland Manor.
McLauchlin said endorsement of the debt by partner municipalities including the Town of Rimbey, Ponoka County and the Town of Ponoka has been requested by the minister.
While the board is still waiting for this endorsement, McLauchlin said he is confident the Foundation can handle the debt load and doesn’t foresee any roadblocks.
“The partnership between the Ministry, the federal government, our CAO, the board and the Town of Rimbey on this project is a great example of partnership and collaboration that exemplifies how we get things done in our part of the province.”