Co-operative Housing Federation of Canada joins Toronto-based affordable housing land trust

TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) — In May 2020, Community Affordable Housing Solutions (CAHS) was incorporated as a federally registered not-for-profit corporation dedicated to creating new affordable housing options and innovative solutions. Today, in advance of National Housing Day (Nov. 22, 2020), the nonprofit is announcing that The Co-operative Housing Federation of Canada (CHF Canada) is joining CAHS to help diversify the organization’s affordable housing offerings. In 2019, St. Clare’s Multifaith Housing Society (St. Clare’s) and Habitat for Humanity GTA (Habitat GTA) negotiated a historic $17 million contribution seeded by Toronto developers to launch an affordable housing land trust. The trust was initially created through a collaboration between Toronto developers Capital Developments and Metropia, the City of Toronto, Habitat GTA, St. Clare’s, and community group Build a Better Bloor Dufferin, in order to deliver community benefit from the new 2,200 unit development planned at Bloor & Dufferin.This joint venture partnership brings together organizations representing different community housing models working towards a common goal of increasing affordable housing supply. The three organizations (CHF Canada, Habitat GTA, and St. Clare’s) will be permanent members of CAHS and have each appointed three representatives to the board of directors, who will steward the creation of a variety of strategic affordable housing initiatives.“Since the land trust is focused on delivering more new affordable housing through innovative solutions, we are excited to bring co-op housing into the mix,” said Joshua Benard, Board Member, CAHS and VP, Real Estate Development, Habitat for Humanity GTA. “We are proud to welcome CHF Canada to CAHS so we can help more residents through a broad range of affordable housing options.”  “CHF Canada is excited to be a part of this promising initiative,” said Tom Clement, Board Member, CAHS and Executive Director, Co-operative Housing Federation of Toronto. “Co-operative housing is a proven and popular form of affordable housing. Co-operative housing also has a long history with land trusts and has grown in recent years thanks to their innovative work.”“As the City’s Housing Advocate and Chair of the Planning and Housing Committee, as well as the City Councillor for the area where this land trust has been created, I am pleased to see the Co-operative Housing Federation of Canada join as a partner,” said Ana Bailão, Deputy Mayor and Councillor for Ward 9, Davenport. “I have always maintained that we need to work together if we are to deliver the affordable housing we need and the land trust is an excellent example of this cooperation at work.” About Community Affordable Housing Solutions:Community Affordable Housing Solutions (CAHS) is an expansion driven not-for-profit with the goal of creating a broad range of affordable housing options for Canadians. A partnership among Habitat for Humanity Greater Toronto Area, St. Clare’s Multifaith Housing Society, and the Co-operative Housing Federation of Canada, its founding members have over 100 years of combined experience in the affordable housing sector. To learn more, visit http://cahsolutions.ca/Noah Kravitz
Habitat for Humanity Greater Toronto Area
6478286171
noah.kravitz@habitatgta.ca


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