MennoHomes

a response to the need for affordable housing

 
Rockway Gardens Village - Kitchener (2007)

All Fifty Units Were Occupied Before Scheduled Date!

Residents began moving in on March 10, 2007, and by May 2007 all fifty units were filled. The first potluck supper was held June 5 with 58 of the 62 tenants attending as well as a few members of the MennoHomes Board who welcomed everyone to their new home. June saw completion of the landscaping surrounding the building as well as the paving of the parking lot. The installation of park benches welcomed the tenants to sit outside, visit with each other, and view their new surroundings.

1420 King Street East

MennoHomes Inc was happy to receive a funding allocation of $2.1 million under the Canada-Ontario “Strong Start” Affordable Housing Program.

The grants were in support of MennoHomes’ 50-unit seniors apartment project to be built at 1420 King East, Kitchener across from Rockway Gardens.

Construction started in Spring 2006 with completion and occupancy by the Spring 2007. Planning, site-work and drawings were done by Architecture Incorporated and Brian L. Shantz Ltd.

Seniors 55 and older who may be in need of affordable rental housing are encouraged to contact the superintendents (519) 584-2121 for tenant inquiries. (Income guidelines apply.)

Funding Summary

The project estimates had a capital budget of $6.1 million. To qualify for government grants, MennoHomes agreed to contribute equity of $1,195,000 in land and cash (see chart below).

Canada-Ontario Contribution
$2,100,000
Region of Waterloo grant in lieu of Development Charges
194,750

MennoHomes Contributions

a) land
b) cash

520,000
675,000

Subtotal
$3,489,750
Mortgage from Mennonite Foundation of Canada
2,610,250
TOTAL PROJECT BUDGET
$6,100,000

MennoHomes wishes to gratefully acknowledge the gift of land from the former Eastwood Mennonite Community Homes Inc. EMCHI surrendered its charter in 2004. It donated the land to MennoHomes Inc on the condition that a seniors facility be built on the site.

Each unit will cost $122,000 on average to build. To meet its cash contribution requirements (see chart above), MennoHomes needed to raise $13,500 per unit.

Energy Savings

MennoHomes retained the services of Enermodal Engineering Ltd to make recommendations on how to achieve energy savings for its seniors apartment project.

The cost of measures to improve the building envelope, windows, mechanicals and lighting efficiencies was estimated at $100,000. A federal government grant of $47,234 (CBIP) helped to offset the extra costs. It was estimated that the annual energy savings will be in the area of $25,422. Enermodal projected a payback period of three years for undertaking the measures. The savings have benefitted both MennoHomes and tenants.