City of Waterloo seeks developer for affordable housing project near RIM Park

The City of Waterloo is looking for what it calls “unique development partners” for its latest affordable housing project.

In a statement, the city says it is looking for development proposals that aligns with its current goals for the property, which is to create a compact, mixed-use community and deliver housing that is affordable and attainable long-term.

This comes after the city’s announcement back in April for the project, when it approved the initial steps as well as began the consultation for the property located at 2025 University Avenue East, right near RIM Park.

“Council and staff are excited to take the next step in our historic journey to use city-owned land for more affordable housing options,” said Waterloo Mayor Dorothy McCabe. “The requirements for this project reflect our strategic priorities of creating complete communities that are connected, climate change resilient, inclusive and accessible to transit.”

The city says its objectives for the project include:

1. Create a compact, mixed-use, complete community.
2. Deliver housing that is affordable and attainable over the long term.
3. Make efficient use of the lands while designing for liveability, human scale and a vibrant public realm.
4. Integrate sustainability, natural heritage conservation, climate change mitigation and adaptation into building and site design, materials and construction, transportation and connectivity, and long-term site and building operation and maintenance.
5. Design for safe, convenient and connected active and accessible travel within the site and to offsite transit stops, active transportation routes, and nearby amenities.
6. Support diversity, inclusion, social cohesion and community well-being.

The project is said to advance the city’s Affordable Housing Strategy, which works to increase the supply and mix of options in Waterloo to address the ongoing housing crisis. It says it’s committed to the provincial housing pledge of 16,000 units by 2031.

The full project is expected to get underway once the finalized plan and development are approved, currently slated for sometime in 2025. Residents can follow the project as it continues through the Engage Waterloo page.