For Immediate Release: September 16, 2020
Port Credit, ON – Today, participants gathered to celebrate the launch of a new affordable housing community. Indwell, a Christian charity with a 45-year history of creating affordable and supported homes, is developing Lakeshore Lofts, a 68-unit building at 425 Lakeshore Rd E in Mississauga’s Lakeview neighbourhood near Port Credit.
Lakeshore Lofts will have 62 one-bedroom apartments and six studio apartments, plus ground floor commercial space that will become the new home for The Compass. A third of the apartments will be modified to maximize accessibility. This is the first of a minimum of three buildings that Indwell hopes to build in Mississauga.
“Creating homes that people can afford and where they experience belonging leads to transformation—of lives and communities,” said Jeff Neven, Executive Director at Indwell. “We’re happy to have reached this milestone with the help of our many community partners, strong municipal support, and funding at the regional, provincial, and federal levels.”
Indwell serves people who are seeking independence in a supportive and safe community. Many of its tenants have experienced obstacles to maintaining housing because of physical or financial barriers in our current housing market, mental health challenges, or other impacts of poverty. Indwell’s professional staff walk alongside tenants to solve problems, develop healthy relationships, and connect to community resources.
Lakeshore Lofts will be constructed to the rigorous Passive House standard. This will result in deep energy efficiency and low greenhouse gas emissions, while being very quiet and comfortable for residents.
As the anchor tenant in the new building, The Compass looks forward to shifting to this location when the project is completed at the end of 2021.
“We are thrilled to have found a new home on the Lakeshore corridor as we continue to serve our clients in South Mississauga. Working with Indwell will be enriching for clients and volunteers,” says Mike Giguere, Board Chair of The Compass.
About Lakeshore Lofts
- Four-storey building
- 68-unit affordable housing project
- 23 units are modified to maximize accessibility
- Passive House design for low energy use and GHG emissions
- Main floor commercial space leased to The Compass
- Affordability guaranteed at 70% or less of Average Market Rent for 30 years, targeting sustainability for people whose primary income source is the Ontario Disability Support Program (or similar).
- Indwell is working closely with SHIP to identify people who would benefit and are seeking to live independently in a supportive housing community.
- Construction began earlier this year, with occupancy in late 2021.
- The general contractor for the project is Schilthuis Construction.
$21,538,440 in capital funding
- $2,184,986 Federal/Provincial via Investment in Affordable Housing (IAH)
- $5,895,890 Federal/Provincial via Social Infrastructure Fund (SIF)
- $13,457,564 Region of Peel via forgivable loan