Mayfair Village affordable Housing Breakthrough
July 01, 2010
A truly groundbreaking policy shift involving a partnership of the three levels of government with the private sector to provide quality affordable rental housing development has been announced.Mayfair Village, by private sector developer ProCura, is being built downtown at the intersection of Jasper Avenue and 109th Street. When completed the 237 units (of 700) will rent for 10% less than market average rent - making them affordable for lower income people, minimum wage earners or pensioners, particularly single persons, who have been unable to find good quality affordable independent living housing.
I have been working with developer ProCura on moving this project along since it was first brought to my attention 18 months ago when federal and provincial funding applications were stalled. This project confirms there is an alternative to what has become the usual method of funding affordable housing: government grants mostly to non-profit organizations, leading to greatly increased taxpayer costs as social service providers expand into becoming housing providers. Recent affordable grants from the provincial and federal governments to non-profit groups have been two to even seven times the amount needed by the private sector to provide the identical product.
The emphasis should be on helping those who neither need nor want elaborate social services’ hand holding, just the dignity of their own affordable independent living rental accommodations, currently unobtainable on their minimum or near-minimum wage entry-level jobs.
We need both the private sector and the non-profit sector, working with the municipalities to effect real positive change on a broad range of collective, social and economic needs.
Mayfair Village shows that it is possible for the private sector, in partnership with the three levels of government, to be involved in affordable rental housing. It is a win-win situation, and I hope the first of many such projects.
What do you think?