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The new building with its cut-steel artwork adorning the balconies.
St. Clare’s Multifaith Housing Society is a charitable organization that provides affordable mixed-income housing in downtown Toronto. St. Clare’s was formed in 1998 by people who knew that the only way to end homelessness was to build affordable housing. This summer, St. Clare’s celebrated the opening of 22 new deeply affordable units in Toronto’s Kensington Market neighborhood.
The new rental units were built using St. Clare’s in house construction management and will be operated by St. Clare’s as purpose built housing for people experiencing homelessness. The City of Toronto is providing rent supplements that allow the new studio apartments to be rent at approximately 50 per cent of average market rent (about $524 per month). Tenants also have access to shared facilities including laundry and other programing space.
The building features balconies adorned with laser-cut steel panels designed in collaboration with Kensington Market artists Margaux Smith and Leo Krukowski. Through thoughtful design St. Clare’s has created affordable housing that enhances and contributes to the community, and that tenants can be proud to call home.
The 22 new units cost $5.4 million to construct and were funded as follows:
- St. Clare’s: $3.8 million equity and mortgage financing.
- RESCON: $1 million via a fundraising effort that resulted in 21 donors from the construction and infrastructure sectors.
- The City of Toronto: $500,000 capital grant through the Open Door Program and a $150,000 development grant.
St. Clare’s innovative approach and vision in securing property, financing, and resources has worked to build 177 units of ‘geared to income’ housing and facilitate collaborations with developers to build another 190 new units. St. Clare’s is commited to the creation of mixed income communities that offer affordable and adequate space for families and those in the shelter system.
Iler Campbell is pleased to have counted St. Clare’s as a client since its inception. We’ve worked with them through all phases of development and everything that comes after.
