Hamilton charity unveils ‘The Oaks’ affordable housing complex at former Royal Oak Dairy site
Neven says the idea of using the location was driven by the degradation endured over decades at the site becoming a home to squatters, bringing vandalism and a lot of garbage to the surrounding neighbourhood.
“The neighbours were letting us know of the challenges they were experiencing with the property, so just over four years ago, we said let’s buy it and see if we can turn this into affordable housing,” Neven recalled. ‘The Oaks’ is an affordable housing development that boasts 108 units for Hamiltonians needing ‘deep affordability.’ for tenants living in poverty.Kicked off with a loan from the Hamilton Community Foundation to purchase the buildings, the charity was able to collect $5 million in private donations over the years.
The estimated $50-million project, which included the acquisition of the land, also received aid via funding from the three levels of government. The Canadian Mortgage and Housing Corporation is Indwell’s largest contributor, providing about 55 per cent of funds grants and financing.
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