Canada’s federal government is part of a combined investment of nearly $39 million to construct more than 70 housing units in Waterloo, Ontario.
The federal government is contributing nearly $5.5 million through the National Housing Co-Investment Fund (NHCF), and the Region of Waterloo is providing over $26 million to the project.
Located at 420 Kingscourt Drive, and owned and operated by the Region of Waterloo, the project will feature 73 housing units, including 29 one-bedroom units, 21 two-bedroom units, 11 three-bedroom units, 7 four-bedroom units and 5 five-bedroom units to accommodate larger households. The ground floor of the building will feature a programming space which will serve senior tenants as well as the broader community.
More than half of the units will be allocated to women and their children, as well as other low-income households. Additionally, 19 units will have enhanced accessibility, and the common areas will be barrier-free.
Construction of the building is expected to be completed by February 2025.