City of Waterloo calls for proposals for $1.1 million Affordable Rental Housing Grant

The City of Waterloo announced today it will be accepting applications for its Affordable Rental Housing Grant to allocate $1.1 million towards affordable rental housing.

The funding is available to not-for-profit organizations, including not-for-profit housing co-operatives, to support them in the creation and/or retention of affordable rental housing in Waterloo.

“Council unanimously approved this grant to help address the issue of housing affordability,” said Waterloo Mayor Dorothy McCabe. “We know the community and housing providers need support to protect existing affordable housing units as well as create new ones; this will help provide that support.”

The Affordable Rental Housing Grant is also part of the City’s ‘Complete Neighbourhoods’ objective which promises to increase the supply and mix of affordable housing.

The City is seeking proposals from not-for-profit organizations who will create and/or retain affordable rental housing units for low to moderate-income households. The funding is comprised of $900,000 from (section 37) developer contributions and $200,000 from Council’s Community Priority and Contingency Reserve for a total of $1.1 million.

Submissions are due by 2 p.m. on May 31, 2024. More information, including the application form, is available on the City’s affordable housing webpage.

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Media Contact:

Stacey Abbott

Manager, Corporate Communications

City of Waterloo

Stacey.Abbott@waterloo.ca