Chloe Brown Unveils Comprehensive Plan for Toronto's Housing Future: Transitioning TCHC into Community Land Trust Development Agency

New commission to potentially generate Community Land Trusts in 106 neighborhoods; generate up to 100,000 family units over 20 years

TORONTO, June 21, 2023 /CNW/ - Today, mayoral candidate Chloe Brown unveiled a pioneering plan to transform Toronto's housing future by transforming the Toronto Community Housing Corporation (TCHC) into the Community Land Trust Development Agency (CLTDA). This proposal targets a fairer, inclusive housing system catering to diverse needs while addressing homelessness through collaboration with non-profit developers and affordable housing options.

"The city can't afford another Swansea Mews, with repair costs across TCHC surpassing a billion dollars before incidents like this. We need a different model, like the successful land trust pilots supported by CMHC," stated Brown.

The envisioned CLTDA will foster community land trusts, already deployed successfully in Parkdale and elsewhere, in under-resourced city areas. Federal and provincial ministries' funding will be harnessed to establish mixed-use spaces offering discounted rents for commercial and industrial tenants, as well as essential care service providers, topped by mixed-market housing. Multiple ministries including Health Canada, Families, Children and Social Development, and Canada Mortgage and Housing Corporation will guide service and policy integration.

"Not only would this approach enable so many communities to own their land, it would enable getting people into spaces much faster. When I become Mayor, half of refurbished TCHC units would go to people experiencing homelessness and half to those on the waiting list. That could start almost immediately," added Brown.

Social impact bonds (SIBs), "open source credit unions" form a significant part of Brown's plan, redesigning publicly-funded programs, products, and services to address social issues cost-effectively. Investment in appealing residential and commercial spaces will foster sustainable tenancies, lure and retain tenants, and generate funds for community-beneficial social services and programs.

The CLTDA's programs will feature rent-geared-to-income, mixed use and rent-to-own initiatives, enabling low-income individuals and families to access affordable housing, building equity and transitioning towards homeownership over time. In partnership with stakeholders such as rental developers and mixed-use real estate firms, the CLTDA will create innovative, sustainable mixed-space solutions catering to marginalized communities.

To promote transparency, accountability, and safer housing, the CLTDA will implement robust ethical business practices, utilizing data analytics and collaborating with associations and organizations in real estate, legal, and community sectors. They'll also use property technology (proptech) to establish transparent processes, increase accountability, and mitigate risks like money laundering, corruption, and fraudulent contractors.

Brown's plan presents an innovative opportunity for Toronto to address housing affordability, homelessness, community development, and integrity in real estate and construction. By transitioning the TCHC into the Toronto Community Land Trust Development Agency, Brown envisages a sustainable city prioritizing its residents' well-being and creating an inclusive and equitable housing system.

Brown is attending the Offsite Construction Expo today at the Westin Harbour Castle. Thursday she will be touring modular housing sites with HousingNowTO then attending the Thursday night debate at OCAP. Media are invited to these events and the OCAP night debate.

ABOUT THE CHLOE BROWN CAMPAIGN: Chloe Brown is a policy analyst running for Toronto's Mayor known for her policy expertise and inclusive approach. Her campaign emphasizes community, connectivity, and commerce, featuring a diverse and independent team. Visit chloebrown.ca for more information or to support her campaign.

SOURCE Chloe Brown for Mayor

Media inquiries can be made to Jen Evans at 4163463262 or [email protected]