Mixed-income housing project in Cambridge hunting for its developer

Plans are in place for a new mixed-income housing project coming to Cambridge, with the Region of Waterloo officially on the hunt for its developer.

Affordable housing is said to be the top priority for the project coming to 30 Lauris Ave., with 30 per cent of the units being priced at or below market value when it comes to rent. The property is located just off of Franklin Boulevard, within a 10-minute walk from various shops, schools and restaurants in the area.

It’s said to be part of the Building Better Futures initiative, which aims to increase the development of affordable housing projects across Waterloo Region, with a target of 2,500 homes by 2025.

“We continue to look at every possible mechanism to create homes for everyone in our community,” said Regional Chair Karen Redman. “Using regionally-owned lands to increase the number of affordable homes in our community is an important part of our Building Better Futures strategy.”

The land was originally purchased by the Region of Waterloo back in 2018, which bought it with the intent of developing the site for future affordable housing. It was then marked as one of four regionally-owned properties that were declared as surplus back in 2021, with the announcement of the new 106-unit development announced in August.

“Since that time, the Region of Waterloo has completed community profiles for each surplus site, conducted background work to prepare the land for development and established criteria for development partner selection,” said the region in a statement.

A request-for-proposal (RFP) has now been issued, meaning the municipality is officially seeking a developer for the project’s construction.

“The development partner will lead the design, build, and management of the property, while the Region maintains ownership through a long-term land lease,” said the Region of Waterloo.

That request is set to close on Nov. 15, when a selection committee will then look through the submissions that have been given before further details and construction estimates can officially begin.

The full list of details and further information can be found on the Engage Waterloo Region website.