Important step forward in addressing housing inequity

Waterloo Region – TheRegion of Waterloo has announced a new equity-based rent assistance program that will increase support for 30 Black, Indigenous, racialized and marginalized families in 2021, expanding to 200 families next year. This marks an important step forward in addressing housing inequity in Waterloo Region.

The program is part of Regional Council’s vision to create an inclusive community where everybody can thrive. The program is funded through a $15 million dollar investment Council approved earlier this year to improve the economic, social, and cultural health and wellbeing of Black, Indigenous, racialized, and marginalized community members.

$1.55 million of that funding is being invested to create the new Rent Assistance Program to make housing more affordable for those facing the greatest access barriers. This will help reduce housing costs and is portable, allowing families to use the program to help make their current home more affordable, or to move to another rental home in Waterloo Region.

“We know that housing is essential to the wellbeing of all residents, and is foundational to promoting a healthy community for all,” says Regional Chair Karen Redman. “That is why Council is very happy to announce this new rent assistance program that will make housing more affordable for some of the most historically underserved and marginalized communities. It is an important step forward.”

The new Program will support affordability for all and has these objectives:

• Increasing the supply of affordable housing for Black, Indigenous, racialized and marginalized families;
• Strengthening partnerships with community agencies serving these communities;
• Promoting social and economic inclusion; and
• Facilitating community capacity building.

The new program is part of the Region’s Building Better Futures: 2,500 Homes in 5 Years plan, which will continue to increase the affordable housing we create.

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