Ontario Construction News staff writer
The Region of Waterloo is moving forward with new housing projects by using regional land to increase affordable housing options at 30 Lauris Ave. in Cambridge. The region has divided the property into three new lots for single-family homes and will keep one lot for a future affordable housing project. This initiative is part of the Building Better Futures plan, which aims to create 2,500 affordable homes across Waterloo Region over the next five years.
Two of the new lots are now up for sale at market rates. The money from these sales will be used to improve affordable housing at the 30 Lauris site. These lots are designed for single-family homes and are located in a well-established neighborhood near schools and amenities.
The 30 Lauris Avenue development is expected to include about 106 homes, with a promise that at least 30 per cent of these homes will be affordable for at least 30 years. Affordable housing means rent that is at or below 80 per cent of the Canadian Mortgage and Housing Corporation (CMHC) Median Market Rent for Waterloo Region, including utilities.
“It’s crucial that we find innovative methods to increase affordable housing in Waterloo Region,” regional chair Karen Redman said in a statement. “We are constantly looking for ways to build more homes efficiently and affordably. The 30 Lauris Avenue project is a perfect example of this effort.”
A request for proposals (RFP) is expected to open this fall.
The 0.93 hectare (2.3 acre) property is one of four region-owned sites chosen to speed up the development of affordable housing through partnerships with developers. The Region has prepared sites for development and set criteria for choosing development partners.
A public Request for Proposal (RFP) for the development of affordable housing units will be open to private and non-profit developers. A selection committee including staff from planning, development, and legislative services, housing, facilities, and procurement will evaluate the submissions based on an established evaluation framework, which will include weighted measures
As part of the Homes for All initiative under the Region’s new strategic plan, Growing with Care, the 30 Lauris Avenue project supports the Region’s goal of investing in affordable homes and creating economic opportunities for everyone.
Building Better Futures: 2,500 Homes in five Years is the Region of Waterloo’s plan to increase affordable housing significantly. The goal is to build up to 2,500 new homes by the end of 2025, raising the annual rate of affordable housing development from 50 to 500 homes. With 2,350 new homes currently in development, the Region is committed to making housing affordable for all, believing that strong communities are built when everyone has a place to call home. The plan includes using land, funding, and resources, and engaging with the community to boost the development of affordable homes.