Affordable housing secured by the Parkdale Neighbourhood Land Trust Community-driven acquisition of at-risk property made possible with innovative financing solution

Housing and homelessness

The Parkdale Neighbourhood Land Trust (PNLT) and the Vancity Community Investment Bank (VCIB) today announced the acquisition of an at-risk low-rent residential building containing 36 apartments in Parkdale, Toronto in an effort to help protect the area’s affordable rental stock. With this acquisition the land trust has grown its community ownership in the area from 15 to 51 units of affordable rental housing – equivalent to a 240% increase.

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