BUILD NOW: Waterloo Region is Creating a Practical Solution for our Broken Housing System.
We are building homes to give middle income earners 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.
Who We Are
BUILD NOW: Waterloo Region is an ambitious housing project that will provide 10,000 units of missing middle homes across the region.
With home ownership becoming increasingly out of reach for Canadians, this project will provide an opportunity for middle income earners to enter the housing market, build equity and enjoy a better quality of life.
Drawing on a wide continuum of institutional knowledge from trusted stakeholders across the region, BUILD NOW: Waterloo Region is a practical housing solution that will result in significant and lasting change in our communities. Through collaboration and community engagement with the private and public sectors as well as not-for-profit organizations, BUILD NOW: Waterloo Region is a testament to the commitment and tenacity of this community to improve housing conditions for our residents.
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.
Our Plan
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.
Our Commitments
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
Affordable Forever
Never Investor Owned
BUILD NOW: Waterloo Region is made
possible by generous support from
Waterloo Region Community Foundation.
Together, we are we are ensuring our communities are equitable, connected, and sustainable; and people are thriving.
Eric Avner, President & CEO, Waterloo Region Community Foundation