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MISSISSAUGA, ONT. — The City of Mississauga and Habitat for Humanity Halton-Mississauga-Dufferin (Habitat HMD) have launched a partnership to help unlock a “shovel-ready pipeline of affordable homes for hundreds of Mississauga residents.”

As a first step, the partners are announcing the creation of five affordable home ownership units at Edenshaw’s Alba development, located near the Cooksville GO Station, explains a release.

The city used a $1.08 million community benefits contribution from Edenshaw to facilitate Habitat HMD’s discounted purchase of the units. Habitat HMD will ensure these homes remain affordable for the long-term.

This “first-of-its-kind” partnership for Mississauga will connect non-profit providers with community-minded developers who may have unsold market units close to completion.

Families benefit from an affordable mortgage tailored to their income, with a secondary mortgage provided by Habitat HMD covering the difference between the discounted purchase price and fair market value, including a buy-back provision to ensure the units stay affordable in perpetuity.

After moving into their Habitat homes, families see household incomes rise 28 per cent higher than comparable renters, while health, education and employment outcomes improve significantly, the release adds. The result is an estimated $35 million in annual economic uplift compared to renting.

Developers or non-profits interested in learning more about this model can contact housing@mississauga.ca and visit Habitat HMD’s ���ɱ���貹����.