New program promotes housing partnerships
An innovative approach to affordable housing is being taken to lessen the lengthy local waiting list.
Niagara Regional Housing is introducing a new program that will support construction of new affordable units by private landlords.
The agency has its first partnership lined up under the New Development Housing Allowance program and, following approval of regional council last Thursday night, has made a 20-year commitment to fund 20 units in the new Bethlehem Housing and Support Services (BHSS) project.
The 80-unit project will be built at 111 Church St. in St. Catharines.
NRH will fund 20 units at a cost of $250 per month per unit for singles and $300 per month per unit for families.
NRH board chairman Paul Grenier, regional councillor for Welland, commended staff for developing an unconventional method for helping to address Niagara’s growing housing need.
“This is an outstanding report before us,” he said during the council meeting. “It is novel, creative and provides a great partnership to create housing units.”
It’s a program Grenier believes will gain traction throughout the province once it’s introduced.
“It’s something we can be truly proud of here in Niagara.”
The BHSS project is taking place in collaboration with FirstOntario Credit Union and Penn Terra Group Ltd. A 20-year funding commitment from NRH was requested in order to secure project financing.
It’s expected to cost NRH between $60,000 and $72,000 per year and monthly payments are expected to begin in 2018.
Money for the program will be reallocated from the rent supplement program.
St. Catharines Mayor Walter Sendzik commended staff for the innovative approach.
It’s a chance, he said, for Niagara to “take a calculated opportunity and seize it with a third-party operator in terms of finance development and a not-for-profit to help address the housing shortage we have.”
Sendzik felt it was an “important moment” for Niagara that will significantly impact housing in the future.
He believes it will help to “accelerate chipping away” at the evergrowing wait list.
If the initial project goes well, “I think it will set the stage for a lot more investment in the community for affordable housing and will help those in our community that have been on that list for far too long,” he said.