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Plans Submitted For Unique Housing Plan
From left to right: Dahabo Ahmed-Omer (The BlackNorth Initiative); Mwarigha (WoodGreen Community Services); Sherry Larjani (Spotlight Development); Shelton Mpala (The BlackNorth Initiative); and Ene Underwood (Habitat for Humanity GTA).
Credit: Joel Gale
Consortium Aims To Provide Affordable Housing For Families With Low To Moderate Incomes
Toronto - June 3, 2022
By Paul Barker, Special To PostMedia Network
A 3.5-acre site at the corner of Black Creek Dr. and Lawrence Ave. W. is set to change not only a neighbourhood, but the lives of many people.
Plans call for a consortium that includes Spotlight Development Inc. as well as not-for-profit agencies Habitat for Humanity, WoodGreen Community Services, the BlackNorth Initiative and Trillium Housing, to construct a four-tower complex that will accommodate an estimated 1,470 residential units.
Currently the location of a strip plaza and parking lot, the vision, organizers say, include the following targets: 10 percent dedicated to housing for Black Canadians, 10 percent to Indigenous Canadians, 10 percent to Habitat for Humanity, 10 percent to Trillium Housing and 15 percent to Woodgreen.
The remaining 45 percent of units could end up being part of a hybrid mix once the site plan is approved, which would involve some units being subsidized and others being sold for a profit.
Any profits would then be used to cover the cost of a subsidized unit as well as an assortment of community services.
“Our proposal prioritizes affordable housing in a neighbourhood that has lower than average incomes in the city of Toronto, and where 56 percent of residents live in rental apartments,” said Sherry Larjani, president of Spotlight. “Through this development, we are prioritizing inclusivity and diversity that can be sustainable for the long term.”
In April, the group submitted plans to the city for the four mixed-use towers that will contain 35,866 sq. ft. for essential retail and 36,959 sq. ft. of outdoor community amenities that will include a non-profit daycare and community gardens.
Ene Underwood, the CEO of Habitat for Humanity GTA described the “vision for the new development as “bold, courageous and generous.
“Over the last two years, affordability has gotten further away from Canadians seeking to purchase a home. Through this new partnership, we can help more families lay down roots, experience the stability of owning their own homes, and transition from making rent payments to building equity.”
The group said in a release that the goal is to provide as much affordable housing as possible for rental and ownership.
In terms of how long it will take for the project to get underway, Larjani said she is hopeful for approval faster than it takes for “fully-for profit” projects to be approved.
She has also formed a new non-profit called Spotlight Affordable Ventures, which “will continue to prioritize affordable housing options and purpose-built rental opportunities in future projects.”
According to the release, part of the project “aims to provide housing for families with low to moderate incomes that fall below $75,000 annually.
“With the goal of providing as much affordable housing as possible for rental and ownership, this vision is a stark difference to what is typically offered in the housing development sector across the city.”
There is, said Larjani, “education that needs to happen” about how best to accommodate what she described as the “missing middle.”
That target group could be a couple who combined might earn upwards of $100,000 but at the moment would not qualify for a mortgage.
“They are working, they are earning the money, but today they are still not going to be able to become homeowners,” said Larjani. “We will help them get there.”
About Spotlight Development
Spotlight Development is a Toronto-based real estate development company dedicated to creating innovative, inclusive, and community-driven housing solutions. Specializing in traditional market condominiums and affordable housing projects, Spotlight combines visionary design with a commitment to sustainability and community impact.
With over 10.5 million ft² of development space, representing more than $2 billion in managed assets, Spotlight Development is reshaping communities through projects that prioritize social impact and sustainability. Guided by the motto Impact Real Estate Empowering People, Spotlight is setting a new standard in the industry.
Learn more at www.spotlightdevelopment.com or connect with us on LinkedIn.
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