Toronto in the year 2019  Habitat for Humanity GTA is pleased to announce the launch of a historic $17 million land trust seeded by Toronto developers to create new affordable housing for Toronto residents with collaboration between Toronto development companies Capital Developments and Metropia.  It is important that partnerships between government, the private sector, non-profit groups, and community residents can generate innovative solutions to achieve affordable housing.  The most important features were as the Capital Developments and Metropia will contribute $9 million in cash and will provide a further $8 million via an interest-free revolving loan that will be paid back in 10 years. The $17 million will be used to establish a non-profit land trust, $15 million of which will be leveraged to develop up to 180 new affordable housing units by a non-profit partnership. The remaining $2 million will be invested by the land trust to provide additional community space in the Bloor & Dufferin neighborhood.

The Land Trust initially governed by Habitat for Humanity GTA and St. Clare’s, a non-profit housing provider that has supported local residents to advocate for affordable housing. “I expect this land trust to demonstrate the capacity of non-profits to respond to the City of Toronto’s housing crisis,” said Andrea Adams, Executive Director of St. Clare’s.