The new units are expected to be completed by the end of 2022
A new multi-million-dollar tranche from the federal government will support the rapid development of new housing supply for a highly contested Ontario market.
Federal and provincial officials have announced a $7.1 million investment in the development of 74 new affordable homes across two housing projects in the Waterloo Region. Of this sum, $4.5 million will come through the Major Cities Stream under the expanded Rapid Housing Initiative, while $2.6 million will be provided through Reaching Home: Canada’s Homelessness Strategy program.
“The first project, managed by KW Urban Native Wigwam Project, will be located at 27-31 Cambridge Street in Cambridge,” according to the Canada Mortgage and Housing Corporation (CMHC). “The second building will be administrated by OneROOF and will be located at 35 Sheldon Avenue N. in Kitchener.”
The units will be offered primarily to Indigenous People, women and their children, and other vulnerable individuals in the region.
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The new funding is on top of the recently announced $6.6 million invested through RHI in the Waterloo Region last month, CMHC said.
“The global health crisis has exacerbated the housing and homelessness challenges across the country,” said Bardish Chagger, Member of Parliament for Waterloo. “This is a priority for our government and we are acting to respond to the severe housing needs. The RHI 2.0 funding will provide immediate support towards safe and stable housing for thousands of vulnerable families and individuals in the Waterloo Region.”
Both projects are expected to be completed by the end of 2022.
