None of the new homes will be available to be sold as investment properties and all will go to people who need a place to live, Habitat for Humanity CEO Philip Mills said.
"We would sell it [at] half price and all the rental units would be controlled by local not-for profits and community groups to ensure that not only is this a one time influx of 10,000 affordable units, but 10,000 affordable and attainable units in perpetuity in this community."
This is all so great to hear. I do wonder if these policies alone are enough to control the prices of these homes though. Low supply would still cause some amount of upward price pressure in the second hand market, no?
"We're looking to build missing middle homes around four to six storeys in height," Mills said during the press conference Thursday.
Anyone know any other projects in KWC that are looking to fill the "missing middle" gap?