City and Marguerita Residence Corporation Celebrate Conclusion of Funding Arrangement

Brockville – The City of Brockville announced on Friday that the Marguerita Residence Corporation has secured their conventional mortgage for their property and has repaid the loan in full, including all costs to the City of Brockville.

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

“City Council are proud to have supported this project which has secured an increase of seniors housing in the City.” the city said in a news release.