The City of Hamilton is providing $3.7 million to CityHousing Hamilton (CHH) for the repair and renovation of vacant units across its affordable housing portfolio. Specifically, CityHousing Hamilton has identified 476 units in need of repair at an estimated cost of $5.7 million. With the approval of a grant, CityHousing Hamilton will receive $1 million in funding, sourced from an internal loan from the Hamilton Future Fund. In addition, a previously committed sum $2.792 million from a dividend surplus will contribute to the estimated $5.7 million needed to complete the critical repairs.

“We are grateful for the support of City Council and these investments, which will allow us to address repairs to these vacant units,” said Adam Sweedland, CEO, CityHousing Hamilton. “I am pleased to say, that with the support of the CityHousing Hamilton Board, a comprehensive Vacancy Renewal and Management Plan has now been approved. This plan supports CHH’s ability to meet targets and to prevent future backlogs of critical housing, as well as continue proactive and preventative maintenance.”

CityHousing Hamilton manages a portfolio of over 7,100 units of affordable housing, providing homes for more than 13,000 tenants. With buildings averaging 45 years of age, ongoing repairs and renovations to units are needed to ensure this housing remains useable.

According to the City of Hamilton, the strategic investment further reinforces Council’s recent endorsement of Hamilton’s Housing Sustainability and Investment Roadmap, which identifies the repair of vacant units as one of several priorities that can be actioned over the next year to address the housing crisis and help create a healthy housing system.