Ontario Construction News staff writer
The City of Hamilton has recently closed the real estate transaction with Hamilton East Kiwanis Non-Profit Homes (HEK) and Victoria Park Community Homes to purchase a 7.2-acre site for an affordable rental project.
“I am excited to work with Victoria Park Community Homes, East Kiwanis Non-Profit Homes Inc. and the Ward 8 community towards the development of badly needed affordable housing on the Hamilton Mountain,” said councillor John-Paul Danko.
Formerly Mountain Secondary School, the property was purchased for $3.13 million from the city’s $50 million Poverty Reduction Investment Fund. to achieve goals within the city’s Housing and Homelessness Action Plan.
Hamilton is contributing $5 million in-kind towards the development, reducing the capital cost and helping achieve affordable rents. The partnership also secured Seed Funding from the Canada Mortgage and Housing Corporation through the National Housing Strategy.
HEK and VPCH have been working towards a partnership for development for several years. Caledon Community Collaborative will be the founding partnership between the two independent organizations and has engaged EllisDon for the build.
A formal partnership of this kind between multiple non-profit organizations is a new model in Hamilton, and both non-profits are confident that their collaboration will be replicable across the country, encouraging further joint developments of this kind in Canada.
“This project represents an incredible opportunity to deliver affordable housing through a partnership of two of our strongest providers, in a way that fosters inclusion and community growth. The ability to house larger households in areas outside of our downtown continues to build on our strategic goals to address housing challenges throughout the City,” said Edward John, director of housing services.
This collaboration will support Hamilton is Home’s initiative of developing 3000 affordable units over three years. It is also in alignment with the Government of Canada’s objective under the National Housing Strategy to create a new generation of housing in Canada, providing more Canadians a place to call home.
Community consultations are targeted for 2021.
“We are so excited for the opportunity to provide additional affordable housing to our community, and we are equally as excited to be doing it in a partnership with Hamilton East Kiwanis Non-Profit Homes,” said Lori-Anne Gagne, CEO of Victoria Park Community Homes.
[…] Partnership struck to create new affordable housing community in Hamilton […]