Over $5 million available for new affordable housing projects in Waterloo

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Ontario Construction News staff writer

As part of a plan to accelerate the rate of affordable rental housing construction, the Region of Waterloo is accepting proposals for projects that would generate new units, convert existing units into affordable rentals, allow for acquisition of land/property to build new units, and repair existing units.

The Region will accept submissions until Thursday, April 1, 2021 at 2 p.m. More information, including the proposal form, is available on the Region’s Bid Opportunities page.

Approved projects could begin construction by January 2022 and be completed by 2023.

A total of $5,665,653 is available; $2,665,653 is provided through the Canada-Ontario Community Housing Initiative (COCHI) and the Ontario Priorities Housing Initiative (OPHI). Another $3,000,000 is available through Regional funding.

“The Region continues to prioritize affordable housing by providing funding for more units,” said Regional Chair Karen Redman. “We welcome proposals that will contribute to our goal of everyone having a place to call home in Waterloo Region.”

The funding supports a transformational plan the Region is taking on as part of Our Vision 2021, which will generate up to 2,500 new affordable units in five years.

 

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