Ontario Construction News staff writer
The Region of Waterloo says 990 new affordable homes will be built in 2022, with 837 already in development. Approximately 141 of these homes will be supportive homes.
“Every new affordable unit moves us closer to our ambitious vision of making housing affordable for all,” said Regional Chair Karen Redman. “With our Building Better Futures plan, we have set the aggressive target of creating 500 new affordable units every year, up from 50 new units a year.”
The Building Better Futures plan includes reviewing the land portfolio and determining how surplus Region-owned lands can be optimized for affordable housing projects.
As a result, three surplus land sites were approved in late April for future affordable housing developments – 1388 Highland Rd. W., Kitchener; 41 Westhill Dr., Waterloo; and 30 Lauris Ave., Cambridge. They will provide an estimated 119 affordable units.
The Region of Waterloo is investing $150 million in housing in 2022 to support residents who face the greatest barriers, build more affordable homes and improve shelter capacity. Building Better Futures commits to creating 2,500 new homes over the next five years.
“We are seeing continued success in advancing on our Building Better Futures goal as more projects come online in 2022,” said Councillor Elizabeth Clarke.
“The project at 416 Kingscourt is a good example of the type of housing we are looking to create. It will provide 73 new mixed-income affordable apartment units in a modern six-storey building within walking distance to the ION LRT system. We are committed to creating housing that is appropriate and affordable to meet the rising demands in Waterloo Region.”