TORONTO—Mattamy Homes and The Biddington Group are making a $1 million contribution to Habitat for Humanity Greater Toronto Area (GTA), which will be used to build two family-sized housing units in Toronto.
The parties worked collaboratively on the deal and hope it will be seen as a precedent for future partnerships with developers.
Qualified Habitat partner families are expected to move into their homes in October 2021, states a release, adding the affordable mortgage on the units will be structured so that when Habitat homeowners eventually sell, Habitat for Humanity GTA can buy back the homes, keeping them affordable from one family to the next.
“Partnerships between Habitat for Humanity GTA and developers are a proven strategy to create more affordable housing in Toronto’s heated housing market, and at the same time, build inclusive, mixed-income communities, which our city desperately needs,” said Ene Underwood, CEO, Habitat for Humanity GTA, in a statement. “The Mattamy Homes and The Biddington Group partnership with us is another demonstration of how the development community can partner with non-profit housing organizations to create new affordable homeownership solutions and stronger communities.”
“We are proud to partner with Habitat for Humanity GTA to help them in their mission of making the dream of homeownership possible for hard-working families,” said Chris Strzemieczny, general manager of Mattamy’s High Rise Division.
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