Feds invest $15 million in Cambridge affordable housing project

Two apartment towers under construction on Hespeler Road will contain 55 affordable units along with a range of supports for vulnerable individuals and Indigenous people.

The latest addition to the region's affordable housing stock is expected to come on line next spring thanks to $15 million in federal funding announced Tuesday to supplement previous support from the province, region and the city.

Minister of Housing and Diversity and Inclusion Ahmed Hussen made the announcement at 195 Hespeler Rd. with the help of Cambridge MP Bryan May and other officials, all eager to welcome another project designed to tackle the growing wait list for affordable housing in Waterloo region.

In addition to the Government of Canada's support, the provincial government kicked in almost $1.4 million along with more than $280,000 from the Social Infrastructure Fund, while the Region of Waterloo is contributing $634,520, and the City of Cambridge is contributing $700,000.

Hussen said the feds are eager to work with the region and cities on funding similar projects and says he expects he'll be coming back to make future announcements in the same vein.

“I have no doubt that with these continued partnerships, we're able to make sure that everyone in this community has a safe, affordable place to call home,” he said.

Tuesday announcement was held at the site of the former Ridgehill Ford dealership, itself the site of a proposed residential tower project containing 321 units, some of which could be designated affordable, according to the application.

At the 195 Hespeler Rd. project, 16 of the 55 units will be designated for lower income households referred from the region's coordinated waiting list and the rest will be rented out to other low income and low-to-moderate income households, said Regional Chair Karen Redman.

Rents for the remaining 70 units in the development, which is on the city's busiest transit route and adjacent to the proposed route for the ION expansion into Cambridge, will be set at market rates.

“Affordable housing is one of the most pressing challenges we face as a region, as a province, and as a country,” Redman said, referring to the region's plan to tackle homelessness by adding 2,500 new, affordable units over the next five years.

Progress on that target has seen the construction of 990 homes to date with 837 homes in development, 141 of which are supportive.

“These are the kinds of investments that are transformational because we know that improving housing affordability and combating homelessness means we need to continue investing across the housing spectrum,” May said.

“That includes building more affordable housing near necessary supports and amenities, having repairs done for existing homes to preserve and revitalize communities while also building shelters and transitional housing for women and children in need.”

“We know the need for supportive housing is great, not only here in Cambridge, it's across the region and country,” Cambridge Mayor Kathryn McGarry said. “This space will serve as a place to grow, to learn and heal for so many in our community. It's more than housing and for that we're incredibly grateful.”

The new mixed-income residential building was developed by Home Concept Property Management and will feature affordable units with visiting support services to help individuals with mental illness, physical disabilities, as well as Indigenous groups.

Independent Living Waterloo Region, Lutherwood and KW Urban Native Wig Wam Project will provide those wraparound supports.

“People really do survive and do thrive when we provide the type of targeted support that's needed for people to be successful,” McGarry added.

Accessibility is said to be central to the design of the building – which will include units with universal design, fully accessible units, and common areas with accessibility features.

The 55 designated affordable one-and-two bedroom units will range in size from 600 square feet and up, and rent will be geared to income based on the affordability model that sets 30 per cent of income for housing as the target rate.

The project, located at the site of the former Satelite Motel, broke ground in the spring of 2021 and is expected to be complete next spring.