Posts Tagged ‘Options for homes’

Neighbourhood Land Trust and Circle Community LandTrust

February 15th, 2023 by Iler Campbell LLP

Iler Campbell LLP is proud to have supported the transfer of 756 units from Toronto Community Housing Corporation to the Neighbourhood Land Trust (NLT) and Circle Community LandTrust (CCLT). This large-scale transaction, which included corporate, real estate, municipal, and financing components, is part of the City of Toronto’s “Tenant’s First” program which is focused on improving access to services and housing for tenants.

NLT and CCLT are focused on ensuring they are successful in maintaining custody of these homes and ensuring perpetual affordability. Their work, however, has just started.

We continue to support NLT and CCLT as they embark on their ambitious repair programs supported by the Canada Mortgage and Housing Corporation. The land trusts are leveraging their repair program plans to generate even more community benefits, including supporting local trades and social enterprises. Notably, NLT is committed to increasing employment and training opportunities for community members and those who experience barriers to employment in the construction industry. We also continue to assist the land trusts with the implementation of their social housing programs, tenancy matters, governance, and more.

Read more about the transaction, and those behind it, in this blog post by Heather Tremain, the Chair of the CCLT board of directors and CEO of Options for Homes.

Client Profile: Humber Co-operative Development Corporation

May 23rd, 2019 by Iler Campbell

The Humber Condominiums is Options for Homes’ latest development on the market. Options calls The Humber “an affordable modern condominium surrounded by nature and convenience.” And we’re sure the condo on Wilby Cres. in Weston Village will be!

The relationship between Options and Iler Campbell dates back to the ’90s when Brian Iler helped the founder of Options establish a financing model that provides down payment support to purchasers, making home ownership affordable to people who mostly wouldn’t otherwise be able to get into the housing market. That was 25 years ago. Nowadays, the need is even greater. In addition to the benefits to purchasers, the model moves some renters into ownership, which frees up more space in a tight rental market. Over 3,000 new homes have been built using their innovative model, creating great communities of people living in quality homes that are more affordable.

Continue reading “Client Profile: Humber Co-operative Development Corporation”

Mike Labbé Named Social Entrepreneur of the Year

November 9th, 2015 by Brian Iler

We were thrilled that Options for Homes’ founder, Mike Labbe was awarded a special citation as Ontario’s Social Entrepreneur of the Year. Options is a long-time client of ours. Continue reading “Mike Labbé Named Social Entrepreneur of the Year”

Options for Homes celebrates official opening of 341 affordable housing unit project

March 23rd, 2015 by Iler Campbell

Options for Homes celebrated the official opening of their Cranbrook Village condo project on Friday. The building, just north of Bathurst St. and Lawrence Ave. is comprised of 341 units which thanks to Option’s innovative financing model were sold for significantly below market value.

City councillor, Ana Bailão and Member of Parliment, Adam Vaughan were present to celebrate. The City of Toronto contributed funds to make 94 of the building’s units even more affordable. Vaughan lamented on Twitter that the federal government was not a funder of the project and had actually made money from it.

Options’ innovative model provides loans to condo purchasers to boost their down payment by 13% or more of the purchase price. The loan is repayable as an equivalent percentage of the sale price when the condo is sold. Those proceeds then go towards the construction of more affordable housing.

We’ve had the great fortune to be partners with Options from their very beginning.

Read more about Options in our profile of them. Check out what Anna Bailão had to say about the event here and catch up on Adam Vaughan’s tweets (including a picture of Shelina and Brian) here.