GTS Construction News staff writer
CityHousing Hamilton (CHH) has purchased an Ancaster property, to ensure the long-term affordability of a three-storey, 30-unit turnkey residential building in a high-demand area.
The $5.35 million acquisition is intended to maintain stable housing options while supporting inclusive communities connected to local services, amenities and transit.
“Protecting and expanding affordable housing is one of the most important ways we can support Hamiltonians and strengthen our communities,” said Mayor Andrea Horwath. “By securing these 30 affordable homes in the heart of Ancaster, we are helping residents stay connected to the neighbourhoods, services, transit and amenities they rely on every day.
“This is a necessary investment that protects affordability, supports housing stability and ensures more Hamiltonians have access to safe, quality housing close to home, both now and for generations to come.”
The property is located at 52 Sulphur Springs Road, a walkable neighbourhood with access to parks, amenities and transit.
“Protecting affordability is not only about building new homes; it is also about preserving the affordable homes we already have,” said City Manager Marnie Cluckie. “This acquisition is a practical, strategic step that helps keep affordable housing options available in communities in Hamilton.”
The building currently includes four rent-geared-to-income units, while the remainder of the units are rented below market rates. CHH said it intends to maintain those affordability levels.
“We are incredibly grateful to the current owners for working with us to make this acquisition possible,” said CHH CEO Adam Sweedland. “Their partnership will help preserve and expand affordable housing opportunities in Ancaster for years to come. Acquisitions like 52 Sulphur Springs Road are a meaningful way for CityHousing Hamilton to add homes more quickly, and we are committed to pursuing more opportunities that create long-term housing stability for residents.”
The 30-unit building includes 25 one-bedroom and five two-bedroom units, with an average monthly rent of $1,150—well below Canada Mortgage and Housing Corporation market averages for Hamilton.
Funding for the purchase includes $3.18 million from CityHousing Hamilton and a $2.35 million loan from First National Bank through the Canada Mortgage and Housing Corporation’s MLI Select program.
CityHousing currently manages 7,142 units of affordable housing in the city, providing homes for more than 13,000 residents. It represents close to half of Hamilton’s purpose-built affordable rental stock.
