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Region's 'Building Better Futures' plan back on track

After a building bust in 2021, the Region of Waterloo says this year is putting it back within reach of building 2,500 new affordable homes by 2025
New home construction
File photo. Blair Adams/KitchenerToday

The Region of Waterloo was out with some good news to mark National Housing Day this week, we're back on track when it comes to a plan to build 2,500 new affordable homes by the end of 2025.

That is the five-year target laid out under the region's Building Better Futures plan which launched last year -- which turned out to be a bit of a building bust.

This year though, the region says it's now expecting to exceed its two-year target.

"After two years of this plan, we have a total of 1,154 new affordable homes with 948 of those homes in development in 2022," said Regional Chair Karen Redman, who also pointed out nearly 250 of those are supportive homes for people who've lived rough longest.

"I think that's really important because people look at encampments, they look at shelter, and there are different points along the continuum where we have to continue to invest to make sure the kind of supports people need and want are there," Redman said.

Redman said the region also expects more than 200 of the homes built to date will be occupied by year's end.

The region says housing is deemed 'affordable' when housing costs make up 30 per cent or less of household income.

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