UPRC welcomes endorsement by City Council to partner on affordable housing
(Toronto, ON) – March 10, 2021
United Property Resource Corporation (UPRC) welcomes the endorsement by City of Toronto Council to embark on a partnership that will create 500 new affordable homes across the city over the next five to seven years.
The City of Toronto’s new affordable housing program will increase the opportunity for vulnerable and marginalized individuals, including Indigenous Peoples, Black people, People of Colour, seniors, women, and members of the LGBTQ2S+ community to access safe, healthy, and adequate homes.
UPRC and United Church of Canada have made a bold commitment to CMHC to build and operate 600 affordable housing units by 2025, 2,500 affordable units by 2030, and 5,000 affordable units by 2037. Many of these developments will be mixed income and mixed use ensuring much need community space will be incorporated.
“This is one of the largest opportunities to reimagine what our neighbourhoods could look like over the next 15 years and the common good that repurposing real estate can have on communities, individuals and the environment.” said Tim Blair, CEO, United Property Resource Corporation. “UPRC represents a tremendous opportunity to fill a gap in the housing market across the country and advocate for progressive real estate models that are socially, environmentally and financially sustainable.”
UPRC was founded to meet the growing need for professional real estate development and management expertise within communities of faith and non-profits across Canada, who are one of the country’s largest land owners. Collaborating with both public and private partners, UPRC is a new model that looks at community infrastructure in an inclusive way to unlock value for social purposes, including building lasting affordable housing for all in high-quality, low carbon buildings.
Founded in 2019, UPRC brings professional real estate development and management expertise to communities of faith and non-profits to assist them in making astute decisions about their real estate while making lasting contributions to their communities. The development corporation collaborates with both public and private partners.
For more information, please contact:
Laura Currie Ryder