10,000 'half-priced' homes is target of new Waterloo Region partnership

A new partnership led by Habitat for Humanity Waterloo Region aims to create 10,000 new, affordable and attainable homes in the region by 2030.

Plans for the project, dubbed ‘BUILD NOW: Waterloo Region,’ were unveiled Thursday at a news conference at Cambridge City Hall.

Speaking alongside local mayors and officials, Habitat for Humanity Waterloo Region CEO Philip Mills said the homes will be placed on the market for around half price – 7,000 will be for purchase, while 3,000 will be rentals.

“The goal of ‘half priced homes’ is realistic and achievable as long as we embrace innovative policies that replace short-term self-interest with a long-term commitment to sustainable growth,” Mills said in a news release.

Local developers, non-profits, charities, home builders, construction association members and multiple levels of government are all involved in the project.

Partners will transfer undeveloped land for housing construction, development charges will be waived through Bill 23, and home builders will eliminate pricing mark-ups beyond what allows them to build new housing at cost, BUILD NOW: Waterloo Region said in the release.

“There is land available. Builders have the skills and labour to build the homes. Local not-for-profits and charities have experience working with rental providers to ensure that affordable rentals are available. The provincial government has the vision and resources to fast-track development approvals and help fund servicing and infrastructure requirements. And Habitat for Humanity Waterloo Region brings the experience in governing affordable housing projects,” Mills said.

Drawing on Habitat for Humanity Waterloo Region’s experience screening and placing families in attainable housing, the program will ensure all of the new homes go to people who need a place to live and none will end up as investment properties, BUILD NOW: Waterloo Region said.

President of Grand Valley Construction Association Jeff MacIntyre said while the model is innovative, it could be replicated in any community across Canada and it’s not actually a totally new idea.

“While the model we are using might be new for 2023, it is, in fact, a modern version of Canada’s wartime housing program which successfully delivered a combination of affordable rental and home ownership options in the midst of a national housing crisis,” MacIntyre said.

The new homes will consist of buildings from four to six storeys in height, with unit sizes ranging from one to three bedroom, BUILD NOW: Waterloo Region said.