City of Waterloo awarded up to $14.8 million for infrastructure to support over 4,500 new homes

The City of Waterloo has been awarded up to $14.8 million in funding towards the Beaver Creek Road and Conservation Drive reconstruction project through various provincial funding grant streams. This project will enable the creation of over 4,500 new housing units in Waterloo.

The grants have been awarded under three provincial funding projects:

• $6.8 million under the Housing-Enabling Water Systems Fund (HEWSF) Intake II
• $2.9 million (of the awarded $6.4 million) under the Building Faster Fund (BFF)
• $5.1 million under the Housing-Enabling Core Servicing (HECS) Fund

These funds will be used to create the infrastructure (roads, underground infrastructure, active transportation facilities and the Laurel Creek sanitary pump station) required to advance development according to the Beaver Creek Meadows District Plan.

The Beaver Creek Road and Conservation Drive Reconstruction involves the reconstruction and urbanization (including all underground infrastructure) of Beaver Creek Road and Conservation Drive. It also includes the construction of two new sanitary pumping stations (Laurel Creek Sanitary Pump Station and Conservation Drive Pump Station) to service the ultimate build out of the Beaver Creek Meadows district and the Erbsville North area to the west. This project will result in over 4,500 new housing units in Waterloo.

“Waterloo wants the homes our residents need to be built, and housing requires infrastructure,” said Mayor Dorothy McCabe. “We appreciate the funding support we’ve received from the provincial government through these various grants. Waterloo needs all kinds of housing: single family, low rise, mid rise, apartments, and affordable units as we build a future ready community for all. Activating the Beaver Creek Meadows district through this funding will help us continue our momentum, accelerate housing starts, and keep Waterloo moving forward.”

Premier Doug Ford was in Waterloo on September 2 to announce that Waterloo would receive BFF funding for exceeded our housing target for 2024. Waterloo surpassed the goal of 1,333 units with a total of 1,722 housing units, reaching 129 per cent of the target.

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Media contact:

Stacey Abbott
Corporate Communications Manager, City of Waterloo
Stacey.Abbott@waterloo.ca