Construction of new Oakville seniors apartment approved by Halton Region
Published February 6, 2023 at 2:43 pm
A new four-story apartment building for seniors is going up on Kerr St. in Oakville.
Construction of the new seniors’ supportive housing facility was approved by Halton Regional Council at a recent Jan. 25 meeting.
The apartment building, which will be located at 263 Kerr St., will include three floors of residential units and a ground-floor space for a Seniors’ Hub.
The current Oakville Senior Centre building located on the site is scheduled to be demolished before the beginning of the second quarter.
The current design outlines the construction of 30 one-bedroom units on the third and fourth floors and 22 studio units (with common amenity space) on the second floor.
Both types of units are in high demand amongst seniors applicants on the Halton Access to Community Housing (HATCH) waitlist.
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The total estimated project cost for the 263 Kerr Street development is $45,373,526.
Council will allocate the full $11,918,395 in Canada-Ontario Community Housing Initiative and $9,309,329 Rapid Housing Initiative Round 3 funding received from senior levels of government towards the project.
The majority of seniors on the HATCH waitlist are on fixed annual incomes of below $20,000 a year, with an ability to only afford $500 per month for rent with some form of rental subsidy.
Rents for 45 of the 52 units are proposed at $480 per month.
The Canada-Ontario Community Housing Initiative program requires rent to be at or below 80 per cent of CMHC’s average market rent for Oakville.
Halton Region has a multi-year Portfolio Approach to achieve the Comprehensive Housing Strategy objectives and create up to 600 purpose built rental and assisted rental housing opportunities between 2021 and 2031.
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