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The District Municipality of Muskoka and Habitat for Humanity Ontario Gateway North have signed a $155,300 funding agreement supporting the construction of two affordable, universally accessible homes in Bala.
Everyone deserves a safe and affordable place to call home. The Canada Mortgage and Housing Corporation (CMHC) definition of “affordable housing” is based on costs of less than 30% of a household’s before-tax income. In Muskoka, over half of tenant households are forced to spend more than 30% of their income on housing. For many households, that number exceeds 50%. Add to this a rapidly aging demographic. The limited supply of affordable, accessible (age friendly) housing in Muskoka is keeping vulnerable people at risk. To support affordable housing in our communities, the District Municipality of Muskoka (the District) has approved and executed a funding agreement in support of two affordable, universally accessible Habitat homes on Elm Street in Bala, set to be completed next year.
The District was able to support this Habitat project through funding provided by the governments of Canada and Ontario, who are committing $155,300. The funding will be delivered through the Ontario Priorities Housing Initiative (OPHI).
“Every Canadian deserves a safe and affordable place to call home," says the The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC). "Through investments like this one in Bala, our Government is helping create new jobs and stimulating the economy, while providing access to safe, affordable homes that meet the needs of Canadians. This is the National Housing Strategy at work."
“Our government knows how important it is to create fully accessible affordable housing in Muskoka and communities across Ontario," said Steve Clark, Minister of Municipal Affairs and Housing. “This is a great example of how we are helping to make our community housing system more efficient and sustainable, and helping to ensure that people can access the housing and supports they need today, and in the years to come.”
"Affordable housing is perhaps the biggest challenge facing our communities across Muskoka," shared District Chair John Klinck. "We are so pleased that funding from the province has created the opportunity to partner with Habitat for Humanity on this important project that will support residents of Bala with a place to call home".
The funding agreement represents a forgivable loan to Habitat for Humanity Ontario Gateway North in the amount of $155,300 towards the capital costs required to complete the construction of the homes. The agreement is structured to ensure the homes are rented at an affordable rate of 20% below the average market rents in Muskoka for twenty years.
By partnering with Habitat for Humanity Ontario Gateway North, the resident families will be assured of paying an affordable monthly rental payment, a portion of which is saved and applied as a down payment to purchase their home twenty years after the move-in date. “This Deferred Homeownership program is a hybrid of Habitat’s affordable home ownership and affordable rental programs,” says Kimberley Woodcock, CEO of Habitat for Humanity Ontario Gateway North. “This model makes good use of donated funds. We serve the community now by creating badly needed affordable rental units, and in time, we’ll leverage the same contribution and adapt to serve the community again by providing affordable homeownership opportunities.”
“Becoming a Habitat homeowner is an impactful journey,” says Woodcock. “According to a survey of Habitat homeowners, Habitat for Humanity families are more physically active and they are more involved in their community. Parents achieve better employment outcomes and children reach higher levels of education. Not only do our 2022 Bala homes ensure a low cost of operating, but we are removing environmental barriers to provide a sense of possibility, freedom, and hope for people currently isolated and limited by an inaccessible home.”
To join the effort by donating or volunteering, go to www.habitatgatewaynorth.com.
About Habitat for Humanity Ontario Gateway North
Amalgamated in 2014, Habitat for Humanity Ontario Gateway North is a non-profit organization working toward a world where everyone has a decent place to call home. Habitat for Humanity brings communities together to help families build strength, stability and independence through affordable homeownership. With the help of volunteers and Habitat homeowners we provide a solid foundation for better, healthier lives in our service area, in Canada and around the world. Our region serves communities across central and northern Ontario, including Orillia, Midland, Muskoka, Parry Sound, North Bay and Sudbury. Habitat for Humanity Ontario Gateway North is an affiliate of Habitat for Humanity Canada, which was established in 1985 and has grown to become a leading global non-profit working in more than 70 countries. For more information, please visit www.habitatgatewaynorth.com.
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For more information:
Kimberley Woodcock
Chief Executive Officer
Habitat for Humanity Ontario Gateway North
(705) 646-0106 x206
kwoodcock@habitatgatewaynorth.com
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