Over the past decade, Parkdale has lost more than 28 rooming houses and small buildings to gentrification and renoviction, displacing nearly 350 renters, and this move signals growing momentum from the land trust in implementing community-driven solutions to the housing crisis. With this acquisition the land trust has grown its community ownership in the area from 15 to 51 units of affordable rental housing – equivalent to a 240% increase.
Under community ownership the property will be operated as non-profit affordable rental housing for low-income households. The Land Trust has contracted Parkdale Property Management, a branch of the local charity Parkdale Activity-Recreation Centre (PARC) to provide manage the property.
Press Release