UserNameToronto
Active Member
http://www.theglobeandmail.com/news...-votes-to-sell-over-700-homes/article2209897/
Given TCHC buildings tend to be clustered in in certian neighbourhoods (Downtown East, Parkdale, Leslieville/Beaches) I'd say this is especially a win for those who have, or wish to, take a bet on these 'hoods.
Who's up for a $400k fixer upper in Riverdale?!
The board of Toronto’s social housing agency has voted to sell 706 homes despite pleas from dozens of tenants concerned about potential eviction.
A crowd of social housing advocates chanted “We are not for sale” through much of a five-and-a-half hour Toronto Community Housing meeting on Friday, silenced only after a 10-2 vote in favour of offloading much of the agency’s scattered housing stock.
TCHC CEO Len Koroneos argued that the $336-million he hopes to raise from the sale would be put towards the $650-million repair bill the agency is currently facing. Much of that backlog is for stand-alone homes that need, on average, $60,000 in repairs compared to $30,000 for apartment units, according to the agency.
...
The plan still requires the approval of City Council and the province, a process that will take at least six months, according to Mr. Koroneos. He hopes to put 70 vacant homes on the market by June, followed by a phased sale of the rest of the stand-alone stock over the next several years.
Given TCHC buildings tend to be clustered in in certian neighbourhoods (Downtown East, Parkdale, Leslieville/Beaches) I'd say this is especially a win for those who have, or wish to, take a bet on these 'hoods.
Who's up for a $400k fixer upper in Riverdale?!
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