A 106-unit apartment building and three single-family homes could rise at 30 Lauris Ave. in Cambridge as early as next year.
The Region of Waterloo will launch request for proposal (RFP) this fall seeking partners to build an affordable apartment on the property and has created three parcels suitable for single family homes.
Two of those parcels are already for sale and the region plans to use the proceeds to fund the affordable housing.
The news comes two years after the region sought community input on what the do with the 2.81-acre site of the former Alison Public School.
The project is part of the Building Better Futures Initiative, a regional strategy to accelerate the development of 2,500 affordable homes over a five-year period.
The site is within a well-established neighbourhood, close to schools and amenities.
The planned apartment at 30 Lauris Avenue will support as many as 106 homes, with a commitment that at least 30 per cent of the units remain affordable for a minimum of 30 years.
Affordable housing is rent that is at or below 80 per cent of the Canadian Mortgage and Housing Corporation (CMHC) Median Market Rent (MMR) for the region, inclusive of utilities.
“Finding new and innovative ways to create more affordable homes in Waterloo Region is incredibly important right now,” said Regional Chair Karen Redman in a press release announcing the new plans.
“At every point in the process, we’re looking at how to create more homes, more affordably and more effectively. The 30 Lauris Avenue project does just that.”
The property is one of four regionally-owned surplus properties identified for the acceleration of affordable housing through developer partnerships.
Since that time, the region has completed community profiles for each site, conducted background work to prepare the land for development and established criteria for development partner selection.
The Lauris Avenue project is part of the region's Homes for All new strategic plan Growing with Care.
As the project advances, there will be more opportunities for community engagement on the EngageWR website.
