Almost 100 affordable homes set to be built in Oshawa, with others planned for region

With the average price of a home in the Durham Region still sitting well above $800,000–recent data from the Toronto Regional Real Estate Board suggests the average price hit $856,170 last month–a substantial investment is anticipated to create affordable units in Oshawa and Brock.

Today, Durham Region announced plans to invest $8 million in its At Home Incentive Program, which provides capital grants to eligible residential housing developments that include affordable units.

According to a news release, the ACA Housing Corporation, an Ontario-based developer that creates social housing, will receive $750,000 to build 10 affordable rental units at 82 River Street in Sunderland, which is in the rural Township of Brock. 

The region said the proposed development will convert a vacant three-storey retirement home into an apartment building with multiple affordable units, including three studios and seven one-bedroom units. 

The proposal also includes three accessible, barrier-free units on the ground floor.

The region also said that Athol Green Co-operative Homes Inc., a non-profit and member-owned co-operative that’s based in Whitby, will receive $7.25 million to build 96 affordable rental units on the north side of Athol Street West, between Centre Street and Simcoe Street in downtown Oshawa. 

The region said the new 23-storey, 274-unit rental apartment building will include 96 affordable units, including 71 one-bedroom units, 21 two-bedroom units and four three-bedroom units. A report suggests that, once complete, the building will also include space for a medical office and daycare. Amenities will include a fitness room, party room, children’s play area, business and classroom centre, and outdoor terraces.

The release said 15 per cent of units in the Oshawa building are intended to be accessible, with plans to pursue Rick Hansen Foundation Accessibility Certification. Through WoodGreen’s Homeward Bound Program, 25 units will be set aside for single mothers who are working to earn college diplomas, start careers and achieve financial independence. 

“Creating affordable housing requires strong partnerships and strategic investments. Through this $8 million commitment, the Region of Durham is supporting the development of affordable rental homes that will provide stability and opportunity for residents across our communities,” John Henry, regional chair and CEO, Region of Durham, said in a statement. 

Projects eligible for AHIP may include new construction, non-residential buildings converted to residential use, new affordable buildings on existing sites, new units in existing buildings, or community housing redevelopment that increases the supply of affordable housing units.

On its website, the region defines affordable rental housing as suites with monthly occupancy costs that are less than or equal to the average market rent. According to data from Canadian real estate platform Door Insight, the median rent for a two-bedroom unit in Oshawa came to $1,965 per month in June. 

The platform said one-bedroom units tend to rent for about $1,600, while three-bedroom units tend to cost tenants about $2,500 a month. 

For the Brock unit, a report indicates that affordability is proposed at 80 per cent of average market rent for a 50-year period. For the Oshawa project, the report said the affordable units are proposed at 100 per cent of average market rent over a 50-year period