Despite not securing a multi-million-dollar grant, a St. Thomas, Ont., non-profit is still determined to get its tiny affordable homes project off the ground.
The YWCA St. Thomas-Elgin says its application for an $8-million grant with the Canada Mortgage and Housing Corporation (CMHC) for its rapid housing initiative was declined.
YWCA executive director Lindsay Rice tells Global News her CMHC rep told the St. Thomas team they had a very competitive bid, but there was one category where they lagged behind others.
“CMHC allocates additional points to the communities they believe are in the deepest need for affordable housing,” said Rice. “Unfortunately, we just weren’t awarded those points in that area even though we know how much of a housing crisis St. Thomas is faced with right now.”
She noted there were more than 700 applicants from across Canada for the $1.5-billion fund. While disappointed not to have the funding, Rice says not obtaining the financing is a subtle way of understanding there are other communities worse off.
“It just really goes to show how much of a housing crisis exists across Canada to be in competition with that many applicants.”
The Tiny Homes Project aims to build 40 tiny homes between 400 and 700 square feet in size. Twenty homes are set to be one-bedroom, 14 two-bedroom and six three-bedroom.
The funding from the CMHC would have brought the project to its total fundraising goal of $13.5 million. But now, to garner the last $8 million, Rice says it is “back to plan A,” which will focus on community resources.
“Doug Tarry, as one of our project partners, and also the birth and vision of this project, envisioned to have a community, collaborative approach to this,” said Rice.
Rice added there are multiple benefits to having the project focused on tiny homes rather than an apartment building. By having 40 different structures, numerous community groups can work collaboratively, and the houses can be built in stages.
And while the $8-million grant was denied, Rice says they will work with the CMHC to develop a co-investment mortgage.
“Between those two factors, we will be able to re-strategize our funding model and continue moving forward.”
Rice says gift-in-kind donations have also been welcomed throughout the process and continue to be welcomed as she estimates around $2 million is still required from the community once accounting for the planned mortgage with the CMHC.
“I think it is extremely reasonable knowing that last winter we raised over $1.5 million in three months,” said Rice.
Besides the homes themselves, of which eight will barrier-free, there will also be vegetable gardens on the property, an outdoor amenity area with a playground and a facility where the YWCA will run various programs.
Comments