Canada creates 55 new homes in Cambridge

The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, Bryan May, Parliamentary Secretary to the Minister of National Defence and Member of Parliament for Cambridge, Steve Clark, Ontario’s Minister of Municipal Affairs and Housing, Karen Redman, Chair of the Region of Waterloo, and Kathryn McGarry, Mayor of Cambridge, announced over $18 million in funding to support 55 new homes in Cambridge, ON.

The Government of Canada is investing nearly $15 million to support this project. The provincial government is contributing almost $1.4 million through IAH and 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.

The new mixed-income residential building is located at 195 Hespeler Road and was developed by Home Concept Property Management. It will feature affordable units with visiting support services reserved for individuals with mental illness, physical disabilities, and Indigenous groups in Cambridge. Accessibility is central to the design of the building – which will include units with universal design, fully accessible units, and common areas with accessibility features.

The project broke ground in the Spring of 2021 and is expected to be complete in Spring 2023.

Quotes:

“Every Canadian deserves a safe place to call home. Our government is supporting the creation of more homes for those who need it most. This project will be adding much needed housing in Cambridge while extending a helping hand to vulnerable individuals. This is the National Housing Strategy at work.”

“This investment from the Government of Canada’s National Housing Co-Investment Fund will provide stability and safety to those who will soon call this building home. I'm proud that this major investment will help meet affordable housing needs in Cambridge, benefitting thousands of residents for decades to come.”

“Our government’s policies have delivered historic results in getting more housing built faster and complement our nearly $4.4 billion investments over the past three years to grow and enhance community and supportive housing, address homelessness and respond to COVID-19. We have also strengthened mental health and addictions supports for people experiencing, or at risk of homelessness. Ensuring all Ontarians have a home that meets their needs and budget, especially our most vulnerable, is a top priority for our government.”

“We welcome today's funding announcement from the Government of Canada to support the building of new affordable housing units in Cambridge. Access to affordable housing is one of the most pressing challenges we face across the Region of Waterloo. We know that communities thrive when everyone has a place to call home, and with the support of government, community and industry partners, we are building ten times the number of affordable units that were being created prior to the pandemic.”

“These affordable and supportive units will provide more than a roof over someone’s head. They will serve as a safe place to learn, grow and heal. Everyone deserves that and we are grateful for the investment here in Cambridge. This project is an excellent example of an incredible partnership with a common goal — to offer support to those in our community who need it most.”

“We are grateful for the investment made by Canada’s National Housing Co-Investment Fund. Very soon, this building will become “home” to 55 new households, bringing stability, safety and support to deserving folks in our community. Our organization’s commitment to affordable housing is being realized through the National Housing Strategy”

Quick facts:

• The National Housing Co-Investment Fund (NHCF) is a program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous peoples, people with disabilities, those with mental health or addiction issues, veterans, and young adults.
• With a budget of $13.2 billion, the NHCF plans to:
  • Create up to 60,000 new homes
  • Repair up to 240,000 homes
  • Create or repair at least 4,000 shelter spaces for victims of family violence
  • Create at least 7,000 new homes for seniors
  • Create at least 2,400 new homes for people with developmental disabilities
• Budget 2022 proposes to advance $2.9 billion in funding under the NHCF to accelerate the creation of up to 4,300 new units and the repair of up to 17,800 units.
• The Government of Canada’s National Housing Strategy (NHS) is an ambitious, 10-year plan that will invest over $72 billion to give more Canadians a place to call home.

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As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that by 2030, everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.

To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.

For information on this release:

Daniele Medlej
Office of the Minister of Housing and Diversity and Inclusion
Daniele.Medlej@infc.gc.ca

Media Relations
Canada Mortgage and Housing Corporation
media@cmhc-schl.gc.ca