BUILD NOW: Waterloo Region is building 10,000 units of “missing middle” housing
This first-of-its-kind community-led housing initiative will produce ‘half price homes for Waterloo Region residents by 2030.
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Why We Do It
A family of four is eager to enter the housing market in an area close to their support network, within a 30-minute drive to their jobs, but cannot find a home in their price range.
A single mother with a young daughter and a well-paying job as a nurse is looking to build equity through home ownership to ensure she can keep a roof over their heads without constant fear of eviction, but cannot qualify for a mortgage.
A young couple is hoping to transition out of the rental market into their own home, but cannot afford to save for a down payment while also paying monthly rent.
An aging couple is looking to downsize and free up their home equity to fund a great retirement, but can’t find an affordable rental home that meets their evolving needs and comes without the fear of renoviction or displacement.
BUILD NOW: Waterloo Region is Creating a Practical Solution for our Broken Housing System.
We are building “half-priced homes” to give people an opportunity to enter the housing market, build equity and improve their quality of life.
Of the 10,000 homes, 70 per cent are for ownership and 30 per cent are for rental.
These homes will stay affordable in perpetuity, ensuring people in our community have access to attainable housing for years to come.
BUILD NOW: Waterloo Region is a modernization of Canada’s wartime housing program, offering a combination of affordable rental and home ownership options as a plan to help solve the national housing crisis.
The success of this project is dependent on three things:
Working with local partners to transfer (donated or sold at a nominal rate) undeveloped land for housing construction.
Home builders will remove profit margins and eliminate pricing mark-ups beyond that which allows them to build new housing at cost.
Development charges being waived due to Bill 23.
By drawing on a wide continuum of institutional knowledge from trusted stakeholders across the region, we are reimagining a housing model that is proven to deliver results.
10,000 Affordable and Attainable Homes
Missing Middle Homes
70% Owned 30% Rental
Never Investor Owned