State of Housing: Kennedy Green Co-Op — One Answer to Toronto’s Affordablility Crisis
AI Article Summary
The Kennedy Green Co-op at 2444 Eglinton Avenue East is a new co-op housing development aimed at addressing Toronto's affordability crisis. Designed by Henriquez Partners Architects, the three-tower project will provide 918 residential units, with 306 designated as affordable. This initiative, supported by financial incentives from the City of Toronto, marks the largest co-op housing project in Canada in 25 years. The development seeks to create a vibrant community environment without distinguishing between affordable and market units.
What This Means for Canadian Contractors
This project shows how co-op housing can be revitalized to address the affordability crisis in urban areas like Toronto. For Canadian builders, this means exploring new forms of partnership with city governments can lead to significant financial incentives, making ambitious projects more feasible. It underlines the need to approach residential developments with designs that do not distinguish between market and affordable units, ensuring inclusivity and appeal across different income brackets.
