Posts Tagged ‘Affordable housing’

Options for Homes celebrates official opening of 341 affordable housing unit project

March 23rd, 2015 by Iler Campbell

Options for Homes celebrated the official opening of their Cranbrook Village condo project on Friday. The building, just north of Bathurst St. and Lawrence Ave. is comprised of 341 units which thanks to Option’s innovative financing model were sold for significantly below market value.

City councillor, Ana Bailão and Member of Parliment, Adam Vaughan were present to celebrate. The City of Toronto contributed funds to make 94 of the building’s units even more affordable. Vaughan lamented on Twitter that the federal government was not a funder of the project and had actually made money from it.

Options’ innovative model provides loans to condo purchasers to boost their down payment by 13% or more of the purchase price. The loan is repayable as an equivalent percentage of the sale price when the condo is sold. Those proceeds then go towards the construction of more affordable housing.

We’ve had the great fortune to be partners with Options from their very beginning.

Read more about Options in our profile of them. Check out what Anna Bailão had to say about the event here and catch up on Adam Vaughan’s tweets (including a picture of Shelina and Brian) here.

Taking the fight for housing rights to court

December 18th, 2014 by Safia Lakhani

Earlier this year, we considered the Ontario Superior Court’s decision on the landmark Charter application regarding housing rights in Tanudjaja et al. v. the Attorney General (Canada) (“Tanudjaja”). The applicants, four individuals in precarious housing situations, requested the Superior Court make a declaration that the federal and provincial governments had violated their rights under the Charter of Rights and Freedoms: specifically, the right to life, liberty and security (Section 7), and the right to the equal protection and equal benefit from the law (Section 15), by failing to implement a national and provincial housing strategy.

Read more on rabble.ca

Expiring co-op housing operating agreements: An opportunity for housing innovation

September 25th, 2014 by Celia Chandler

Canada Mortgage and Housing Corporation’s (CMHC) operating agreements with non‑profit housing co‑operatives and rental housing providers have begun to expire across Canada at a rapid rate. These agreements with their related mortgages, entered into under various federal programs between 1970 and 1994, supply housing providers with between 25 and 40 years of annual subsidy money to provide reduced monthly charges to a specified percentage of tenants and members who qualify for support. With the conclusion of these agreements and their related mortgages, housing providers will cease making mortgage payments, but at the same time, they will no longer receive housing subsidy payments — payments that subsidize some 200,000 households in Canada comprising half a million people. While not all subsidized housing providers in Canada get their subsidies through CMHC operating agreements, the potential loss is a big blow to the sector. This, on top of an already serious affordable housing shortage, is cause for concern.

Read more on rabble.ca 

Does the right to housing belong in Canada’s Charter of Rights and Freedoms?

May 29th, 2014 by Shelina Ali

This week, the Ontario Court of Appeal is hearing an appeal of the 2013 court decision in Tanudjaja et. al. v. Attorney General (Canada) et al. dismissing an application — of four individuals who identified as homeless, together with the Centre for Equality Rights in Accommodation (the Applicants) — concerning the right to housing. The application in Tanudjaja asked the Ontario Superior Court of Justice to, among other things, make a declaration that the Government of Canada’s and the Government of Ontario’s failure to implement a national and provincial housing strategy violates the federal and provincial government’s obligations under sections 7 and 15(1) of the Charter of Rights and Freedoms (the Charter). By seeking this declaration, the application put the issue of whether social and economic rights are embodied in the Charter squarely in front of the court.

Read more on rabble.ca

Client Profile: Bethune Housing Co-operative Inc.

August 26th, 2013 by Iler Campbell
Bethune Housing Co-operative in Gravenhurst

Bethune Housing Co-operative in Gravenhurst

Bethune Housing Co‑operative Inc. is the only non-profit housing co‑operative in Gravenhurst, Ontario.  Bethune’s 31 units are in a low rise building surrounded by trees on the edge of beautiful Muskoka.  Incorporated in 1991, Bethune is a modern building with many fully accessible units, helping to fill a need for affordable housing in this part of Ontario.

Working through its Co‑ordinator and now a property management company, Bethune’s board has called on Iler Campbell LLP for advice primarily on member issues since 2000.  And despite the miles between Gravenhurst and Toronto, we’ve been just a phone call or email away.

Client Profile: Options for Homes Non-Profit Corporation

July 10th, 2013 by Iler Campbell
Danforth Village Estates, one of Options' current projects, on  Danforth Road just north of Eglinton Avenue East.

Danforth Village Estates, one of Options’ current projects, on Danforth Road just north of Eglinton Avenue East.

Options for Homes Non-Profit Corporation (“Options”) is dedicated to providing quality condominium homes in great communities at the best possible price. Over 3,700 new homes have been built using their innovative model, creating great communities of people living in quality homes that are affordable.

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