Dedicated affordable housing to open for single mothers, children in Regent Park this spring
TORONTO -- Thirty-four single mothers and their children will soon move into a brand new Regent Park building as part of an initiative to provide specialized affordable housing for those in need.
The Daniels Corporation is partnering with Woodgreen Community Services to earmark apartments within the 29-storey tower at 25 Nicholas Avenue for single mothers who have inadequate housing or who are experiencing homelessness.
“There is no doubt that the pandemic has made things much worse,” Daniels Corporation President and CEO Mitchell Cohen said at the virtual launch Friday. “This is a crisis that is not theoretical, it is in fact here and now.”
The City is providing $5.1 million in funding to Woodgreen, which will lease the 34 affordable units to those in need for less than half the market rate: $1,270 a month for a two-bedroom apartment and $1,410 a month for a three-bedroom apartment. The units will be integrated with the other 312 units in the building, which are market rentals.
(Source: The Daniels Corporation)
“Often times women have been on the receiving end of this pandemic in disproportionate ways, and I think that many of us recognize that without carefully-considered resources, and carefully-developed programs that meet the needs of poverty as well as financial instability for women, they will continue to be left behind,” said Toronto Councillor Kristyn Wong-Tam.
The city will also waive the property taxes on the affordable units. The lease agreement will be in place for 40 years.
The new units will be ready for occupancy this spring.