Ontario Construction News staff writer
Construction has started on a six-storey affordable housing development in Waterloo.
The Region of Waterloo is funding more than $26 million in this project, alongside $5.5 million from the Government of Canada through the National Housing Co-Investment Fund (NHCF), a program delivered by the Canada Mortgage and Housing Corporation (CMHC).
The building will include a mix of affordability with rent geared to income, low-end market rent and 80 per cent of median market rent as set out by the Canada Mortgage and Housing Corporation (CMHC).
Constructed on the same site as an existing Waterloo Region Housing (WRH) building at 416 Kingscourt Dr., the new building will have 73 units, ranging from one to five bedrooms. Nineteen of the units will have enhanced accessibility and the project includes a 2,125 square foot seniors’ programming space.
The region’s community benefits program will provide workforce development opportunities for members of equity-deserving groups during construction. The first participants in the program are expected to join the construction team this summer.
Construction is expected to be completed in February 2025.
