May 1st the The Neighbourhood Land Trust (the charity arm of the Parkdale Neighbourhood Land Trust) will purchase and save its first at risk rooming house to preserve and protect affordable housing for low income residents!
This project aims to stop the flow of tenants out of low end of market rental housing and into homelessness. This is the first licenced Rooming House in Toronto to be owned by a community land trust guaranteeing the units will continue to provide affordable housing for 99 years.
Home to 15 working class and low income tenants, this 15 unit South Parkdale property will be owned by The Neighbourhood Land Trust in perpetuity but will be operated and managed by PARC, (a United Way Anchor Agency) who now provides 71 units of affordable housing for adults who are low income and or experience mental health and addictions challenges in South Parkdale.
The project will ensure that existing tenants, many of whom are low income, will have continued affordable rental housing that is safe and secure. Any future new tenants will be prioritized for people who have experienced homelessness.