HOTT has an ongoing commitment to providing affordable housing. We are delighted to announce that we have been awarded funding through the City of Toronto Multi-Unit Residential Acquisition (MURA) program. This funding provides the opportunity to acquire a market rent building to ensure that rents remain affordable, instead of being sold to a private landlord who may raise the rental rates.
This new property acquisition marks a significant milestone for HOTT, helping us to expand our portfolio and enhance our organizational capacity. As we continue to grow, we remain dedicated to creating sustainable and inclusive communities.
We are delighted to welcome a wonderful new 22-unit building and its residents into our community as HOTT’s 14th property. This building will be HOTT’s third Average-Market-Rent (AMR) property, and our first studio units. This gives us the ability to offer a broader range of affordable options and sizes, as our portfolio now includes congregate living, studios, and one, two, and three, bedrooms.
The location of this property is also ideal for our HOTT as it extends our reach into a new neighbourhood, the Annex. Our other properties are in various nearby neighbourhoods, and this gives us the opportunity to work in a lovely new corner of the city.
We would like to extend our heartfelt gratitude to all our supporters, partners, and donors who have been instrumental in making this achievement possible. Your continued support fuels our mission to make a positive impact on the lives of individuals and families through the provision of affordable and quality housing.
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