Close to 500 new homes in the works for Hamilton due to $181.1M investment
Published May 24, 2023 at 3:52 pm
Three projects in Hamilton are receiving more than $181.1 million to construct 497 homes, an investment from the federal and municipal governments that’s seen as helping to revitalize the city’s east end and provide affordable housing to women and children.
“Having access to safe, and supportive homes will help bring positive change to our communities. In collaboration with our municipal partners and local stakeholders, we are working to ensure that all people in Hamilton and in communities across our province and across Canada, have safe and affordable housing,” said Filomena Tassi, MP for Hamilton West-Ancaster-Dundas, in a statement Wednesday, May 24.
Ottawa is investing more than $133 million through the National Housing Strategy’s programs for three projects, according to the press release.
Completed in December 2022, one project at 8 Roxanne is a mixed income apartment building with 103 affordable units, 12 of them accessible. It received $7.1 million in federal funding through the National Housing Co-Investment Fund (NHCF), a $15-million loan from the City of Hamilton and $6.7 million from CityHousing Hamilton. The project also aims to reduce energy and greenhouse gas emissions by 40 per cent and 44 per cent, respectively.
The second project is the Roxton project at 16 and 22 Roxanne, touted as transforming 13 acres in the city’s east end into “a master-planned community modelled on adaptability, inclusivity, and diversity.” Women and their children can pay below market rents at this project’s 352 purpose-built units, 76 of them accessible.
The Roxton project is expected to be completed by June 2024. The project received a $115-million repayable low-interest loan through the federal Rental Construction Financing initiative, aimed at stimulating the supply of purpose-built rental housing units across Canada, according to the release. The project also received $8.3 million from the City of Hamilton, $7 million in cash equity from Roxboro flats, and $10.6 million in land equity from Roxborough Park Inc.
“The project will help revitalize our east end community and add much-needed affordable housing options for individuals in our city.” said Hamilton Mayor Andrea Horwath in a press release.
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A third project at 1620 Main Street has 42 units for women and their children. It obtained $10.8 million in federal funding through the Rapid Housing Initiative.
“We will continue to work hard to tackle Ontario’s housing supply crisis and ensure all Ontarians can find a home that meets their needs and budgets,” said Chad Collins, MP for Hamilton East-Stoney Creek, in a statement.
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