Waterloo Region looks to make dent in affordable housing crisis with new development

As the Region of Waterloo’s latest affordable housing projects gets underway, CTV’s Spencer Turcotte learns how many people are still waiting for a place to cal

Rental prices for apartments in the tri-cities are among the highest across the country, according to recent data from Statistics Canada.

But one of Waterloo Region’s newest affordable housing project, at 420 Kingscourt Drive in Waterloo, aims to help those being priced out of the private market.

The site is currently a construction zone, but work is expected to wrap up by the fall.

For some, it can’t come fast enough.

“Our affordable housing waitlist is currently over 10,000 applications,” said Ryan Pettipiere, director of housing services for the region.

The project will be owned and operated by the Region of Waterloo and offer 73 units made up of one, two and three-bedroom units.

“A third of the units are dedicated to the lowest income earners in our community – those on social assistance, either Ontario Works or Ontario Disability Support Program,” explained Pettipiere. “Another third of those units is being offered to those on a fixed income.”

The trouble is that two-thirds of the units are already accounted for because of that lengthy wait list. The remaining one-third, about 24 units, are still up for grabs for people being priced out of the private market.

“Those median market units, the applications are available right now. They can be found online at the Waterloo Region Engage page,” Pettipiere said.

The region deems a situation “unaffordable” if a resident is paying more than 30 per cent of their before-tax income on housing costs.

But at a glance, housing advocates argue the units aren’t all that affordable.

The monthly rent for each unit by bedroom type is as follows:

• One-bedroom: $1,467
• Two-bedroom: $1,627
• Three-bedroom: $1,786

The monthly flat utility fee for each unit, by bedroom type, is:

• One-bedroom: $96
• Two-bedroom: $159
• Three-bedroom: $241

Jacquie Wells, chair of ACORN’s Waterloo Region chapter, advocates for people in need of affordable housing.

“A one-bedroom apartment for $1,400 is only probably a few hundred dollars cheaper than what you would pay on the private market at this point,” she said.

While Wells appreciates the region’s efforts to try and tackle the issue, she said it will take all levels of government to even begin making a dent in the problem.

“It’s just a drop in the bucket, and the amount of resources and planning that has to go into creating these affordable housing projects [is huge],” said Wells, who also noted the income limits for the units was quite high.

To be eligible, applicants must have an income less than the required household income limit for the unit size:

• Maximum annual household net income limit (after tax) for a one-bedroom: $88,020
• Maximum annual household net income limit (after tax) for a two-bedroom: $97,590
• Maximum annual household net income limit (after tax) for a three-bedroom: $107,160

Pettipiere also agreed that multiple levels of government need to play a hand in addressing affordable housing.

There are a handful of other regional projects in the pipeline, but he admitted they are just one tool in the toolkit.

“In no way will that meet the overall demand for affordable housing,” Pettipiere said. “But it is a significant contribution and a significant expense in undertaking, and supported by the region and the federal government, to make these homes affordable and affordable for everyone.”