New co-op will create affordable homes on vacant Cambridge land
Empty land in a Cambridge neighbourhood is being transformed into the affordable homes that people need, with 101 units of new co-operative housing on the way.
The Region of Waterloo is working together with the Central Ontario Co-operative Housing Federation (COCHF) to build a five-storey building on a Regionally-owned property at 30 Lauris Avenue. Construction is expected to begin this fall, once permits and final approvals are in place. The first new neighbours should move in spring 2028.
All 101 homes will be offered below market rent to provide mixed-income housing that people in Waterloo Region need. This will be one of Waterloo Region’s first new co-op housing community in more than 30 years.
The non-profit Co-op Federation will finance, build and manage the site for a term of 60+ years. The Region of Waterloo still owns the land, but will lease it to the COCHF at a very low rate.
This unique partnership is one way the Region is adding affordable homes across Waterloo Region through the Building Better Futures initiative.
“We’re excited to move from the planning stage into construction,” said Ashley Graham, Development Portfolio Manager at the Region of Waterloo. “Through this partnership, we’re supporting a non-profit group to build homes that people with low to moderate incomes can afford. This builds capacity in the non-profit housing sector, and creates homes that will stay affordable for many decades.”
Since selecting the Central Ontario Co-operative Housing Federation as the partner for 30 Lauris Ave, Region staff continue to support the project with the necessary design, studies and applications, as well as update meetings with neighbours.
“Co-operative housing is a proven model, with a focus on community health, democratic control, and permanent affordability,” said Elana Harte, COCHF’s Executive Director. “We appreciate the Region of Waterloo’s focus and commitment to this project and look forward to getting the shovels in the ground!”
The seeds for this project were planted back in 2017, when the Region acquired the land with help from provincial funding. The site was formerly a public school, which was destroyed by fire in 2008.
This is not the first time the Region has repurposed its own vacant lands to develop affordable housing. A similar project is underway now at 1388 Highland Road West in Kitchener.
To learn more, or to sign up for project updates, visit our EngageWR page: https://www.engagewr.ca/lauris
What is co-operative housing?
- Co-operative housing is member-controlled housing. Members live in the co-op and are responsible for running it. Each member has a vote and every year members elect a Board of Directors.
- This model provides stability and affordability, fosters community, and allows residents to make decisions together about their homes.
About the Central Ontario Co-operative Housing Federation:
- The COCHF promotes the long-term sustainability of non-profit housing co-ops in Canada and the development of more non-profit co-operative housing.
- They have supported housing co-ops since 1992. They support co-ops in Brantford, Cambridge, Guelph, Kitchener, and Waterloo.
- The Federation has 42 member organizations and represents about 3,000 units of member-controlled co-operative housing.
About Building Better Futures:
- The Region of Waterloo launched this initiative in 2021 to accelerate how we develop the affordable housing that people in this community need.
- Part of the plan is leveraging publicly-owned land and partnerships to build capacity within the private and non-profit housing sector.
- Our target is to create and preserve up to 3,500 affordable homes by the end of 2029, with 2,100 of those (60%) dedicated to households with very-low-to-low income.