Affordable Housing Portfolio


Honest Lawyer – 228 Dundas Project

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Loan:

Affordable Units:

$500k 30

Description:

Purchased by Marvin Rivas in late 2014 with help from a Social Impact Fund loan, the historic downtown Honest Lawyer building was converted into an affordable apartment building with commercial space on the ground floor.

Woodfield Gate – 356 Dundas Project

Loan:

Affordable Units:

$2.1m 50

Description:

Owned and operated by Hamilton-based charity Indwell, Woodfield Gate opened it's doors in 2019 and now houses 69 individuals. Ten of the building's 50 affordable units are designated for Parkwood Institute at St Joesph’s Health Care London patients. Read more →


Residenza Affordable Housing – 1090 Hamilton Road

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Loan:

Affordable Units:

$900k 50

Description:

The second Residenza Affordable Housing (RAH) building, Residenza Ortona began construction in Summer 2019. Located on Hamilton Road across RAH's Residenza Italia, the new project will welcome individuals and families of all ages and includes 10 units reserved for veterans. Read more →

Homes Unlimited – 99-107 Pond Mills Road

Loan:

Affordable Units:

$1.6m 78

Description:

Leaders in non-profit housing since 1972 and still growing, Homes Unlimited recieved a loan in 2019 to purchase property for a mixed demographic development, with just over 30% of their units wheelchair accessible. Read more →


Youth Opportunities Unlimited - 340 Richmond Street

Loan:

Affordable Units:

$780k 6

Description:

YOU's newest project is the renovation of 340 Richmond, turning it into a space to host their Employment Resource Center and GED programs on the first floor while housing 6 affordable housing units for youth at various stages of exiting the foster system on the second and third floors.

Zerin Development Corporation - 440 Clarke Road

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Loan:

Affordable Units:

$500k 35

Description:

Veterans in the affordable housing sphere, Zerin's newest development in London will aim to build a respectful and inclusive community for people to live with hope and dignity.


Stepping Stone (Grace Gardens) (Guelph, ON)

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Loan:

Affordable Units:

$2.25M 32

Description:

The Grace Gardens project will see the Parkview Motel in Guelph renovated to accommodate 32-units of supportive housing, targeting individuals who experience chronic homelessness and have complex needs due to aging, medical, mental health and/or addiction issues.

Clairvue Housing Co-operative (Chatham, ON)

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Loan:

Affordable Units:

$275k 8

Description:

Located on a donated parcel of land next to Clairvue's existing 60-unit affordable townhouse complex, this new development includes seven 1-bedroom units and one 2-bedroom unit at 80% market rent, with the Municipality of Chatham-Kent providing rent supplements to all units.


Home Concept Property Management (Cambridge, ON)

Loan:

Affordable Units:

$400k 33

Description:

With 19 deeply affordable single-bedroom units and 14 at 80% of average market rent, Home Concept's 195 Hespeler Road development will give many in Cambridge a place to call home.

 

Gateway Church - 945 Bluegrass Drive

Loan:

Affordable Units:

$300k 40+

Description:

The proposed project will consist of two, three-story low-rise apartment buildings (to-be-built), with 40 residential units in each building (multi-family, medium density residential designation). At least 50% of these units are intended for affordable housing.

The Knossos Housing Corporation of Waterloo Region & Hellenic Community of Kitchener – Waterloo and Suburbs Housing Inc. (Kitchener, ON)

Loan:

Affordable Units:

$1M 64

Description:

The site at the corner of Duke and Madison Streets in the core area of Kitchener is the site of a now closed Lutheran Church. It is ideally located for affordable rental housing and close to services and amenities. The Official Plan designation and the City supports the rezoning from institutional to multi-unit residential zoning. The proposal is to build an 8-story apartment building with 60 to 64 units.

Blenheim Villaview Project (Chatham-Kent, ON)

Loan:

Affordable Units:

$1.125M 7

Description:

Legion Villa in Blenheim, Ontario has successfully run a 35-unit senior’s apartment since 1990. This new project will be an extension of the existing Legion Villa, and will add 13 rental units,7 of which will be designated affordable.