City of Waterloo provides grant to support affordable housing for seniors
The City of Waterloo Council has unanimously approved a one-time $200,000 grant to Supportive Housing of Waterloo (SHOW) to help acquire a property in uptown Waterloo, which will be part of the organization’s affordable housing development portfolio.
The property at 144 Erb St. East includes 24 units and was built in the 1970s. It has been owned/operated by the Civitan Group for seniors since that time. SHOW will fundraise the needed balance that will allow them to acquire and operate the property.
“I’m very excited to see that this property will continue to provide affordable seniors housing,” said Councillor Tenille Bonoguore, whose Ward 7 is home to the property. “I would like to thank SHOW for showing leadership and vision. It is magnificent to keep affordable housing in the core. It’s important and essential and I also thank Civitan for showing leadership 50 years ago in initially developing this housing.”
In making the request for financial support, SHOW indicated it will maintain the current level of affordability for all existing tenants. As units become available, SHOW will establish new rent levels to ensure ongoing affordability is maintained.
“As SHOW board chair Tim Sothern said in making the request, this is good news when good news is in short supply these days,” said Mayor Dave Jaworsky. “It was critically important that these units remain affordable housing units. I’m glad the city can make a significant contribution to ensure this remains a reality.”
With Council approval, the City and Region have provided a combined $400,000 to SHOW to retain these important affordable housing units for seniors within the City. Council created an affordable housing funding program through the approval of its most recent Strategic Plan. This is the first investment through that funding program.
Media contact:
Tony Iavarone
Director, Corporate Communications