Initiative turns couple’s hope of owning a condo into a reality
If you had asked Michell Mark and her boyfriend 18 months ago whether they would ever end up buying a condo in downtown Toronto, the answer would have been a definite no.
The sheer cost of a typical unit, the administration fees, the furnishing fees and everything else that comes with a purchase were just far beyond what they could afford. That all changed this past spring when a letter arrived in their Toronto Community Housing Corporation (TCHC) apartment from The Daniels Corporation, with an offer that ended up changing both their lives.
In it, were details of a unique program called Partnership for Affordable Homeownership or PAH, a down payment assistance program for current and past TCHC residents living in Regent Park, Canada’s largest social housing community and the site of a massive revitalization project.
The proposal was targeted at a new residence called Daniels on Parliament now under construction that once built will contain one 10-storey tower and an accompanying 25-storey tower with a total of 628 suites ranging from 378 sq. ft. to 1,455 sq. ft.