Waterloo unveils major affordable housing project

The City of Waterloo has officially transferred city-owned land at 2025 University Avenue East to Habitat for Humanity Waterloo Region and BUILD NOW, paving the way for one of the largest affordable housing developments in Canadian history. Backed by the federal government’s Housing Accelerator Fund, the project will deliver over 1,000 new homes that are affordable, attainable, and sustainable.

Mayor Dorothy McCabe hailed the initiative as a “once-in-a-generation, transformational project” that addresses the region’s housing crisis. “This is not just about buildings—it’s about partnerships, leadership, and reimagining how we create the housing people need,” she said. “It will deliver hope, stability, and a blueprint for others to follow.”

The development will feature a mix of ownership and rental units, with a 70/30 split favouring ownership. A strong emphasis will be placed on family-sized homes, including three- and four-bedroom units.

The site will be transformed into a vibrant “urban village,” designed as a complete, inclusive, and sustainable community. Plans include residential and mixed-use buildings, public transit-friendly roads, cycling infrastructure, parks, plazas, commercial spaces, and community gardens. Rental units will be managed by trusted non-profit and co-operative housing organizations.

Federal MP Bardish Chagger emphasized the importance of collaboration in making housing more accessible. “Through the Housing Accelerator Fund, we’re partnering with innovative cities like Waterloo to boost housing supply and strengthen communities,” she said.

Construction on the multi-sector collaboration is set to begin in early 2026, with phased occupancy expected by early to mid-2027. The project aims to support a diverse population, including families, seniors, and newcomers, while setting a national example for inclusive, community-focused housing.

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