Indwell and WRCF forge ahead to increase supportive affordable housing supply
A trio of supportive affordable housing projects is currently at varying stages in the region, should everything go as planned and the timing line up, there will be a decisive and necessary influx of such housing opportunities arriving seemingly all at once in the not-so-distant future.
“It’ll feel that way,” said Mark Willcock, Community Engagement Coordinator with Indwell.
Hamilton-based Indwell, which has been operating in parts of Ontario since 1970 and is relatively new to Waterloo Region, is the organization behind the three projects.
St. Mark’s Lutheran Church on King Street in Kitchener is being converted to 43 permanent units, while St. Peter’s Church on Queen Street in Kitchener will house 41 units. Indwell’s third and most recent project in Waterloo Region will see the nearly 200-year-old Grand River Hotel in downtown Preston, in Cambridge – gutted by fire in 2019 -- reborn as either 39 or 40 affordable housing units.
“We’ve purchased the property but we’re still assessing the property in terms of determining if anything can be saved at the site. That’s one of the things we do if we can – repurpose buildings. If we have to tear them down, we can and do, but if there’s an opportunity to repurpose some of it – because there’s a fair bit of history at that site – if we can repurpose some of the original building, we will.”
Construction is underway at St. Mark’s with the aim of the first occupancy next summer, while St. Peter’s is in the funding stage with hopes for an early to mid-2024 opening. The Grand River Hotel project is in the early days of its development stage, with a 2025 targeted opening.
“For a number of years, we’ve been meeting people, building relationships, waiting for the right time and the right opportunity to come to Waterloo Region. Then it came together,” Willcock said.
One of those relationships is with Waterloo Region Community Foundation (WRCF), which, in partnership with the Hamilton Community Foundation, provided an impact investment by way of a three-year, secured loan to Indwell to finance the purchase of the former hotel property in Cambridge that had been sitting empty since the devastating fire. This is the second impact investment between the organizations. WRCF provided a $1.025 Million, three-year, secured loan that was used to purchase the St. Mark’s property in 2020.
“We are familiar with Indwell because we were involved with St. Mark's,” said John Bowden, WRCF’s Director, Financial Services. “Working with Indwell, we've got a good partner that knows what they're doing. The Hamilton Community Foundation has been investing for impact longer than WRCF – they actually provided us with guidance and support as we began our impact investing journey, and they also know the importance of affordable housing”.
What Indwell is trying to do, along with its supportive housing allies throughout Waterloo Region, is provide hope to “some of the most vulnerable and marginalized people in our community.”
Not only will the Preston hotel property provide livable apartment space to those in need – including those currently homeless or living in encampments – it will be a place for assistance and potential transformation. Indwell doubles as a landlord and support worker, aiding with issues such as addictions, mental health, and food security.
“The region’s own data says there are at least 450 people who are chronically homeless,” Willcock said.
“There is a critical need for housing, and supportive housing is one of the top needs. Affordable housing is needed across the continuum of housing but, in particular, supportive housing that helps people find permanent housing and helps them stay housed by providing support on-site – that’s the supportive piece of supportive housing, which is what we do.”
The Grand River Hotel project, currently in the development stage, aligns with Indwell’s regional goal to add 250 units in the next five years. In addition to St. Mark’s, St. Peter’s, and the Preston site, the organization provides support to two region-owned social affordable housing sites in Kitchener and Cambridge.
Indwell opened its 1,000th home in November.
“There certainly is a lot of need in Waterloo Region particularly,” Willcock said. “It’s, unfortunately, necessary but we have some great allies in the sector that are also doing great work to help end homelessness in our region.”
Added Willcock: “We’re just grateful for Waterloo Regional Community Foundation, that they’re helping us achieve our goals by providing an impact loan. They’ve been very supportive and encouraging. We’ve enjoyed a good relationship with them. They’ve kept up with us in terms of St. Mark’s, in our work to join the community, and were very open to helping us with the Grand River Hotel. It’s just a good relationship that continues to grow and we find them to be a very supportive partner. It’s a critical relationship for us with both St. Mark’s and now the Grand River Hotel – they’re helping us finance our first project in Cambridge that we wouldn’t be able to do without their support.”
To learn more about Indwell, including how to provide support - please visit https://indwell.ca/. For more information on WRCF’s impact investing efforts, visit wrcf.ca/impact-investing.
If you would like to learn more about partnering with WRCF to make impact investments, including establishing your own Donor Advised Fund – Invested for Impact, contact Dan Robert at dan@wrcf.ca or 519-725-1806 x 205.