AFFORDABLE HOUSING PRESERVATION

The recent Parkdale rooming housing study has shown that there is currently an accelerating transition underway, by which older rooming house owners who often identify as affordable housing providers are selling off their portfolios to speculative investors interested in gentrifying rooming house properties. Without an intervention this transition will create increasing inequality and hurt Parkdale’s most vulnerable residents. It will also have major repercussions for government and the non-profit housing operators that these residents will turn to for alternative housing and/or emergency supports. Therefore, PNLTs primary aims include maintaining affordability through the ownership of property by the Land Trust. Where multiple options regarding ownership of a site are available, PNLTs charity the Neighbourhood Land Trust (NLT), will aim to be the owner of the site and work with partners to provide operational and/or support services. The recent Parkdale rooming housing study has shown that there is currently an accelerating transition underway, by which older rooming house owners who often identify as affordable housing providers are selling off their portfolios to speculative investors interested in gentrifying rooming house properties. Without intervention, this transition will create increasing inequality and hurt Parkdale’s most vulnerable residents. It will also have significant repercussions for government and the non-profit housing operators that these residents will turn to for alternative housing and/or emergency supports. Therefore, PNLTs primary aims include maintaining affordability through the ownership of property by the Land Trust. Where multiple options regarding ownership of a site are available, PNLTs charity the Neighbourhood Land Trust (NLT), will aim to be the owner of the site and work with partners to provide operational and/or support services.