Major Toronto development highlights renewed use of the co-operative housing model
Counsel to the Co-operative Housing Federation of Toronto and its related community land trusts, providing advice on corporate governance and real estate development matters from project inception through financing, construction, and long-term ownership and operation
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On November 28, the federal government announced a major investment to support large-scale co-operative housing development, including funding for the Kennedy Green project in Toronto. The initiative reflects continued government support for co-operative and community land trust housing models.
The Kennedy Green development will be built on land near Kennedy subway station donated by the City of Toronto, representing one of the largest commitments of public land to a housing project in the city’s history. The land contribution forms a core part of the project’s financing structure and is intended to support long-term affordability through a co-operative housing model.
The Co-operative Housing Federation of Toronto (“CHFT”) is a membership organization representing approximately 180 non-profit housing co-operatives in the Toronto region, providing homes to roughly 50,000 residents. A subset of 32 member co-operatives participates in CHFT’s land trust initiative, which is focused on identifying and leveraging developable land to support intensification of existing sites across the city.
Miller Thomson acts as lead counsel to the Co-operative Housing Federation of Toronto, as well as their related community land trusts, advising on corporate governance and real estate development matters from project inception through financing and construction to long-term ownership and operation.
Miller Thomson advised the Co-operative Housing Federation of Toronto in connection with this work through a team led by Michael L. Walker (Transactions & Leasing) and comprised of Adam Thompson, Lauren M. Toreson, Katherine Cavan, Michael Hanuman (Transactions & Leasing), Michelle Boatter (Social Impact), Eric Laxton (Real Property & Development), and Carrie Johnstone (Paraprofessional).