TORONTO – Crown Capital Partners subsidiary Community Network Partners (CNP) announced Monday it is partnering with municipal-owned YTN Telecom Network to finance, build and operate a fibre-based network in York Region.
The project, which is expected to connect roughly 14,000 customers, will be financed to the tune of $120 million from the two partners, with money provided by the federal and Ontario governments. In March, the broadband project received $48 million from those governments.
CNP, which provides private and open-access broadband networks, will invest $15 million over the next four years in the partnership.
“The collaboration between CNPI and YorkNet will empower York Region to deliver cutting-edge broadband internet services to all corners of the community, including rural and underserved areas,” said a press release. “By leveraging the strengths of both organizations, this partnership will drive innovation, economic growth, and educational advancements throughout the Region.”
The YorkNet corporation was established in 2017 to utilize existing unlit fibre to drive connectivity in the region.
