Kindred Works sets out new approach to solving Canada's housing crisis

TORONTO, May 2, 2022 /CNW/ - Kindred Works is a newly launched, independent company that is reimagining development, addressing the housing crisis in Canada by providing mixed-income homes with the goal of housing 34,000 people over the next 15 years.

Its nationwide portfolio will transform existing buildings and properties in larger urban and small communities, providing community gathering spaces as well as homes.

One third of its housing units will be available to rent at below market prices. All units will be rental. Currently, Kindred Works has eight projects in active pre-development representing 600 homes, and the pipeline will expand to 1,500 homes by end of year

Tim Blair, CEO of Kindred Works, says the company's vision is driven by the belief that housing provides the most fundamental and lasting way for people to thrive - and can also be good for business.

"We are demonstrating that it's possible to provide equal benefits for your business, for the people you serve, for wider society and the environment" says Mr. Blair.

The company's vision is also grounded in its genesis.

It acts as the development and asset manager for United Property Resource Corporation (UPRC), which was founded two years ago by the United Church of Canada to help ensure its church properties continue to serve the common good.

Kindred Works is taking this vision one step farther, however, by leveraging the expertise from UPRC and collaborating with a wide range of other organizations, experts, investors, and individuals – from the Canada Mortgage and Housing Corporation (CMHC) to architectural firms, sustainability leaders to community and culture creators, with the view that each adds a unique perspective on solving the housing crisis.

A sustainable and inclusive company, Kindred Works is aiming to spend at least 80 per cent of its project costs with local labour and businesses and 10 per cent of its labour hours with equity seeking groups.

By 2030, Kindred Works' goal is to produce 80 per cent less carbon in construction than today's industry standard.

For each project, Kindred Works will collaborate with neighbourhood stakeholders to ensure that gathering spaces are part of the developments to provide services for both existing and new neighbours and partners.

And Kindred Works will act as a steward for the spaces it builds – creating and taking care of them for the people who live and gather in these places for generations to come.

As part of its unique development model, each of Kindred Works' projects combine market-rate and below-market-rate rental housing, the profits of which create a solid financial foundation.

In addition, its portfolio approach, in which projects are considered together, lets Kindred Works access more funding opportunities, and streamline its design and construction process.

This allows it to make the most of sites across Canada that couldn't otherwise be developed and bring opportunities to more people.

Kindred Works active projects include:

• St Luke's United Church, Toronto
• Church of the Master United Church, Toronto
• Wexford Heights United Church, Toronto
• Wilmar Heights United Church, Toronto
• Queenswood United Church, Ottawa
• Regent Park United Church, Orillia
• Westminster United Church, St. Catharines
• Portland United Church, Saint John NB

OUR TARGETS

34000
We plan to deliver rental housing for 34,000 people over the next 15 years

2030
We're working to be a Net Positive Company by 2030

1/3
Our goal is that more than one third of the homes in our portfolio will be available to rent below market rate

$4
We're targeting a $4 social return on investment (SROI) for every dollar we spend on a project

80%
We aim to spend at least 80% of our project costs with local labour and businesses

10%
Our target is for at least 10% of the labour hours on our projects to be new jobs filled by equity-seeking groups

30%
Our target is for 30% of our projects to be Universal Design – accessible for all

-80%
By 2030, we aim to produce 80% less carbon in construction than today's industry standard

-65%
We're working to build our homes so they use 65% less energy per year than today's industry standard

SOURCE Kindred Works

PRESS CONTACT: Anna Woodmass T [phone], [email protected]