Project Description

TWC worked with Ridgeford Charitable Foundation to develop a 12-storey, 186-unit apartment building as an addition to its existing apartment building. The new building consists of a mix of one-bedroom, two-bedroom, and three-bedroom apartments. Rents are affordable, at no greater than the CMHC average market rent for the City of Toronto. Ridgeford Charitable Foundation was able to refinance its existing rental property to help make this project financially viable, assisted by City of Toronto municipal Incentives and a low interest loan through CMHC’s Rental Construction Financing Initiative, now Apartment Construction Loan Program.