Habitat for Humanity is getting ready to hand over the keys to 24 affordable housing units in Cambridge. The project at Shantz Hill Road and Preston Parkway features four four-bedroom units, 14 three-bedroom units and six two-bedroom units. “The unique thing about everything Habitat does, is it’s for families. This is affordable ownership and it’s intended for and designed specifically for families,” Philip Mills, Habitat for Humanity Waterloo Region’s CEO said. Mills said creating this number of affordable homes is a major accomplishment. “They just don’t exist. If you’re looking today, you’re either on an exceptionally long waitlist [to rent]. If you’re in the market to purchase, housing is expensive to buy right now,” Mills said. Habitat for Humanity offers prospective homeowners a mortgage geared to their income. “Families pay 25 per cent of their income towards their mortgage, so if their income goes up because they’re thriving, they pay a little more. If things get hard and shifts get cut, their payment goes down,” Mills said. Habitat for Humanity families are also expected to participate in “sweat equity,” a process that asks people to put forth some of their own time, either by helping with the construction of their home, cleaning the build site, working at a ReStore, performing administrative duties or finding other ways to help. The contracts also include a built-in clause that prevents an owner from “flipping” the unit to make a quick profit. Shantz Hill Towns The development in Cambridge includes two stacked townhouse developments. They were built in partnership with Activa. “[Activa has] been spectacular partners. They’ve been doing so much work for us around making this real for us,” Mill said. “They bring their expertise, they’ve been so generous with their time, energy, resources.” Activa said they donated time and administration costs to get the project of the ground. “We’re only based in the Region of Waterloo. This is our home too, so we’re very much aligned with Habitat for Humanity’s goal of providing affordable mortgage options for homeowners to make housing more affordable,” John Hartwick, Activa’s CEO, said. Habitat for Humanity believes the Cambridge homes will be fully occupied early in the new year.
