Oakville– The Government of Canada, the Government of Ontario, and the Regional Municipality of Halton announced over $45 million in funding to construct 52 affordable housing units in Oakville, Ontario.
The Seniors Supportive Housing at 263 Kerr Street will be a mid-rise 4-storey apartment building with three floors of residential units with 52 units in total, including 22 bachelor units and 30 1-bedroom 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 third round of the Rapid Housing Initiative’s (RHI) Cities Stream. Additionally, both the federal and the Ontario governments are jointly investing nearly $12 million through the Canada – Ontario Community Housing Initiative (COCHI); an initiative of the Canada-Ontario Bilateral Agreement under the National Housing Strategy, and the Regional Municipality of Halton provided over $24 million in funding for this project.
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 additional funding for the third round of RHI will be divided into two streams: $1 billion through the Projects Stream and $500 million towards the Cities Stream. Construction of the project is expected to be completed by Fall 2024.