When the ceremonial shovels broke ground at 21 Kains Street back in May, the only missing piece in the Project Tiny Hope puzzle was federal funding.
Friday afternoon (July 14), word came down that the housing grant was not approved.
The financial ask had been $6.7 million.
The total project cost of the ambitious undertaking – which YWCA executive director Lindsay Rice refers to as “more than just housing, it’s a new beginning” – comes in at $14.7 million.
In a statement, Rice advised, “CMHC did not select Project Tiny Hope for a Rapid Housing Initiative grant, but the YWCA and project partners Doug Tarry Homes and Sanctuary Homes are not letting that slow them down!”
The brownfield site the Project Tiny Hope partners stood on that May morning will accommodate 40 tiny homes, a program house, play areas resident gardens and green space. The first 10 residents are scheduled to move in by the end of next year.
Rice continued, “Although this is not the news we wanted, we are enthusiastic about our next steps to re-align our funding strategy to meet our goal of building affordable housing for youth at risk of homelessness, supports for women with young families, and connections for seniors living on their own.”
Doug Tarry added, “while we are disappointed with CMHC’s decision, we recognize it is a reflection of how great the need is for safe, efficient, affordable housing across the country.
“We look forward to engaging with our builder peers, suppliers and trades as we work toward realizing our vision of Tiny Hope as a community-based project addressing these affordability challenges.”
In the meantime, Rice confirmed the YWCA will continue to fundraise and meet with donors, foundations, businesses, and all levels of government for contributions to the campaign.
