Welcome to the Kingscourt EngageWR page! Thank you for your interest in this new affordable housing project in Waterloo. This project will help reduce the wait list of people who need housing in this neighbourhood and it will provide an opportunity to expand services for existing and new tenants.
In 2019, Regional Council approved the Waterloo Region Housing (WRH) Master Plan (see Council Report). An outcome of the Master Plan was the creation of a WRH revitalization strategy for existing WRH properties. The strategy involved evaluating all 65 WRH sites to determine which have the most potential for redevelopment based on site assessments. The sites recommended for redevelopment have relatively high community housing waiting lists, which would be reduced with revitalization. Also, there are several existing services available at these sites which can be expanded as part of the revitalization through community-based needs. The combination of selected sites ensures that affordable units are developed on the central transit corridor and meet the needs of each of the three cities within the region (Kitchener, Waterloo and Cambridge).
416 Kingscourt was one of the recommended properties for revitalization. The site currently accommodates a 3-storey walk-up located near a light rail transit station and many community amenities and can accommodate more homes on the property. A new building (identified as 420 Kingscourt) has been constructed behind 416 Kingscourt and provides 73 units for individuals and families ranging between 1 and 5 bedrooms (see photos of the development progress), with accessible units offered for each unit type. The building has been designed as a mixed-income building offering a mix of 3 different rent levels as follows:
- Rent-Geared-to-Income (RGI)
- Below Market Rent (BMR)
- Median Market Rent (MMR)
In addition to the new housing units, this new building includes a ground floor space for a community partner that will serve this surrounding community. The community partner is the Waterloo Region Senior Services, who will be providing programming for seniors in the neighbourhood.
This project will make a significant difference in the lives of many people waiting for an affordable home.
We thank you for engaging with us through the progress of this exciting new development!
