Habitat for Humanity launching ‘first of its kind’ partnership to create affordable homes in the region

Habitat for Humanity is launching a community led partnership with a goal of creating 10,000 affordable and attainable homes for families in the Waterloo Region.

In collaboration with local developers and other community partners, Habitat for Humanity Waterloo Region is starting ‘BUILD NOW: Waterloo Region’ a first of its kind community led partnership that will bring thousands of affordable homes to the region.

This partnership hopes to work with all levels of government to ensure these homes are built by 2030.

“The number one cause of the affordability crisis in Canada is the high cost of housing,” said Philip Mills, chief executive officer (CEO) of Habitat for Humanity Waterloo Region, “When affordable housing is out of reach for middle- and lower-income families, the entire community is held back. We all have a stake in ensuring that our region can grow sustainably and affordably and, with this ‘all hands on deck’ partnership we have a plan to do just that.”

Phillip Mills, CEO of Habitat for Humanity, is leading the charge on this new project. Speaking now at the press conference he says,

“We have realized the only way to address this crisis is with everyone.” pic.twitter.com/9I44Yw3JeB

— Joshua Goeree (@GoereeReport) July 20, 2023

The ‘BUILD NOW: Waterloo Region’ partnership uses the experience and insight of regional not-for-profits, charitable organizations, home builders, construction association members, the business community, and academic institutions to plan and build housing that will be placed on the market for approximately half-price. The group is aiming to provide a local stock of 7,000 attainable homes for purchase, and 3,000 attainable homes for rent by 2030.

Every one of these homes will go to a buyer or renter who needs a place to live, and none of them will be available as investment properties.

‘BUILD NOW: Waterloo Region’ will remove cost drivers not directly tied to the material and labour necessary to build new homes. Under the leadership of Habitat for Humanity Waterloo Region, partners will transfer undeveloped land for housing construction, development charges will be waived through Bill 23, and home builders will eliminate pricing mark-ups beyond that which allows them to build new housing at cost. Additionally there is hope that there will be private transfers of underdeveloped land at free or nominal costs. Based on Habitat for Humanity Waterloo Region’s analysis, these three factors alone account for approximately 50 per cent of the price of a new home.

The partnership will consist of buildings from four to six storeys in height, with unit sizes ranging from one to three bedrooms.  Leaning on years of experience and established tools, Habitat for Humanity Waterloo Region will ensure homeowners can gain the security and equity of home ownership while specifically preventing ‘flipping’, investment property acquisition, or other profit-seeking market activities that could artificially inflate the resale market.

“Our growing community needs more people in nursing, farming, hospitality, child care and the skilled trades,” said Region of Waterloo Chair Redman. “In order to attract and retain talent, we first need to make it more affordable to live here. We’re ready to work with our municipal partners and the BUILD NOW coalition to deliver housing affordability and meet the Province of Ontario’s goal of building 1.5 million homes by 2030.