TORONTO- June 26, 2015 Greg Spearn, President and CEO/Chief Development Officer (Interim) of Toronto Community Housing, Councillor Shelley Carroll (Ward 33), and Frank Giannone, President of FRAM, today launched Phase 1 of the Revitalization of the community at Allenbury Gardens with the start of demolition of 57 aging townhomes.
In Phase 1, Toronto Community Housing will replace 30 townhomes and build 422 private units in two market condominium buildings, with the first scheduled for completion in 2017. Once complete, the Revitalization will replace 127 Toronto Community Housing units, build approximately 900 new market units, and add a new public park and retail space. Over the course ofconstruction, 10 per cent of onsite jobs will be secured for Toronto Community Housing residents; community residents will also benefit from $70,000 in scholarships and training donated by FRAM.
Toronto Community Housing's world-renowned Revitalization program is making real progress in creating clean, safe, affordable homes in vibrant communities like the new Allenbury Gardens, Regent Park, Alexandra Park, and Lawrence Heights. Working together with private developer partners, Toronto Community Housing is leveraging the value of its
land to replace or refurbish over 5,000 homes across Toronto through Revitalization.�
The work done through Toronto Community Housing's $5-billion Revitalization program and the $2.6 billion in capital repairs will create 220,000 person years of employment and an $18.5 billion increase in GDP for the country, while providing nearly 60,000 households with the clean, safe,affordable homes they deserve.
"We are one step closer to the new Allenbury Gardens that will replace 127 Toronto Community Housing units with brand new homes,with the cost fully covered by the sale of market condominiums in the community.Toronto Community Housing is one of the largest residential developers in Canada with $5 billion of redevelopment planned or underway in our Revitalization communities, rebuilding or refurbishing over 5,000 Toronto Community Housing homes."
-Greg Spearn, President and CEO (Interim)/Vice President and Chief Development Officer, Toronto Community Housing
"In concert with Toronto Community Housing and the surrounding community, being such an integral part of this new development is a very important achievement for our firm and we are proud to develop and deliver such an opportune lifestyle within this village.� With such strong sales on the first two buildings, we look forward to the start of construction."
-Frank Giannone, President, FRAM
About Toronto Community Housing
Toronto Community Housing (www.torontohousing.ca) is Canada's largest provider of social housing, providing
homes for nearly 60,000 households with low and moderate incomes. Toronto
Community Housing is working with private development partners to replace or
refurbish over 5,000 homes in some of our oldest public housing developments
across Toronto through our $5 billion Revitalization program.
�Media contact: Craig Ashbourne, (416) 981-4406 or�firstname.lastname@example.org