In 2011, a new affordable housing project was announced for Chinatown. The housing project will see the construction of a 48-unit, seven-storey apartment complex to be built at Princess Street and Logan Avenue. The complex will be called the Peace Tower, and will cost an estimated $12.7 million. Construction of the tower began in June 2011. In December 2011 the building at 271 - 273 Princess, known to most as Ham 'n Eggs Grill, was demolished as part of the project.