Program aims to add affordable homes at a lower cost
https://www.regionofwaterloo.ca/Modules/News/index.aspx?newsId=613c29e3-9ceb-4167-8e3a-8da9695cf795

The Region of Waterloo is encouraging homeowners to apply for funding that will help create more affordable homes at a lower cost.

Through the Secondary Suites program, homeowners can qualify for up to $25,000 in forgivable loans to create a legal apartment in their home or on their property. The unit must be rented out at below average market rent. …

An affordable unit in a new apartment building typically requires more than $100,000 in funding to create.  Funding a second unit to a single family home is a lot less expensive. Homeowners can also use funding from the program to make an existing in-law suite accessible or to make it a legal unit. …

Homeowners who apply for the program must have a property that is zoned to allow secondary suites.

 

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