Governments invest $45M in Oakville affordable housing project
All three levels of government have contributed a combined $45 million to the construction of 52 affordable-housing units in Oakville.
The Seniors Supportive Housing building at 263 Kerr Street will be a four-storey apartment building with three floors of residential units, and ground floor space for a seniors community hub. The project is for low-income seniors and will provide onsite supportive housing programs and services.
The building includes universal design elements and will be Halton Region’s first Passive House certified assisted multi-residential building.
The federal government is providing over $9 million through the Cities Stream of its Rapid Housing Initiative (RHI). Additionally, both the federal and provincial governments are jointly investing nearly $12 million through the Canada – Ontario Community Housing Initiative. The Regional Municipality of Halton provided a further $24 million for the project.
"Strong partnerships at all levels of government are critical to providing more affordable housing as our community continues to grow,” said Halton Regional Chair Gary Carr. “Through our Comprehensive Housing Strategy for 2014-2024, we’ve invested $24.1 million towards the development of the Kerr Street Seniors Supportive Housing project which will provide much needed affordable housing and supports for seniors in our community."
The RHI provides funding to facilitate the rapid construction of new housing and the acquisition of existing buildings for the purpose of rehabilitation or conversion to permanent affordable housing units.
The first two rounds of the RHI exceeded expectations and are expected to create more than 10,000 units instead of the 7,500 initially planned. This includes more than 3,300 units to support women and more than 4,200 units to support Indigenous Peoples.
Construction is expected to be completed next fall.