Toronto Community Housing is committed to building vibrant, mixed-income communities in each of our Revitalization projects. One key part of expanding housing options for residents is providing them with the opportunity to purchase some of the market units that are built in each community.
What is the Foundation Program?
The Foundation Program, funded through federal and provincial affordable housing funds provided by the City of Toronto’s Affordable Housing Office, is designed to help Toronto Community Housing residents purchase units by providing assistance with up to 35 per cent of the purchase price. The program, which began with funds for 15 home purchases in Regent Park, has been expanded to include new homes built as part of the Revitalization of Alexandra Park, Allenbury Gardens and Lawrence Heights.
How does the program work?
The Foundation Program is available to residents of Toronto Community Housing, with priority given to residents of communities undergoing Revitalization. To be eligible for the program, residents must take part in the financial planning program being run in each participating community.
Residents who are eligible to participate in the program must qualify for a mortgage of at least 65 per cent of the purchase price of the home. The Foundation Program then provides a second mortgage for the remaining 35 per cent of the purchase price, which does not need to be repaid until the home is sold.
How do I apply?
Residents interested in applying for the program should attend an information session held in their community. For upcoming sessions, or for more information about the Foundation Program, please contact the staff person for the community you are interested in below: