Habitat for Humanity Affordable Home Ownership Program

Up to six affordable ownership units in MRKT, the new condo tower being built by Tridel (located at Dundas Street West and Denison Avenue), are being made available to Toronto Community Housing (TCHC) tenants. To be eligible for the Habitat for Humanity (Habitat) Affordable Home Ownership program, TCHC tenants must be on lease in a TCHC unit and meet the program’s financial eligibility requirements.

The program includes a mix of one-bedroom plus den and two-bedroom units, ranging from 630 to 908 square feet. Parking is not included in this program.

TCHC tenants who have a minimum household income of $63,000 and meet Habitat GTA’s other eligibility requirements, can apply to buy a condo unit with no down payment. This is an opportunity for TCHC tenants to own a new condo unit in Alexandra Park. In doing so, they unlock the benefits of homeownership, grow wealth while earning interest on a 25-year mortgage, and get their original investment back.

Some of the minimum eligible criteria include: 

• being employed full-time or full-time equivalent 
• being Canadian Citizens or Permanent Residents 
• having three years of employment history in Canada 
• having good credit rating and reasonable debt 
• being first-time homebuyers
• having no bankruptcies and/or current consumer proposals.

Recorded information session and next steps

Habitat held an online information session for interested TCHC tenants on Tuesday, November 5, 2024, at 6 p.m. If you were not able to attend, please view the recording of the session on YouTube.

If you are interested in applying after viewing the recorded information session, you must send your full name, address, phone number, and email address to habitat@torontohousing.ca so that TCHC staff can verify your tenancy.

Once your tenancy is verified, you will be connected to Habitat staff to complete a pre-eligibility questionnaire which is the first step in the application process.

Background

Since 2015, the local Ward 10 Councillor has dedicated Section 37 funding to assist in the creation of affordable rental and ownership units as part of TCHC's Alexandra Park Revitalization. This funding supported the purchase of six condo units to be operated under a new long-term affordable home ownership program delivered in partnership with Habitat for Humanity GTA.  

The original intention of the program was for it to be exclusive to TCHC Alexandra Park tenants and Atkinson Co-op Housing residents—the communities directly involved in the revitalization. Between March 2024 and August 2024, Habitat administered the program in the Alexandra Park community, complemented by robust tenant and resident outreach led by TCHC.  

In August, the project partners, in consultation with local stakeholders, decided to expand the program's catchment area. At first, the program was expanded to all TCHC tenants living within Ward 10 (Spadina-Fort York). In November, the program expanded to include all TCHC tenants across the city. Interested tenants who meet the financial requirements are encouraged to apply for the program before Saturday, November 30, 2024.  

TCHC's Alexandra Park tenants and Atkinson Co-op Housing residents will continue to be given priority throughout the program. The second level of priority will be given to TCHC tenants residing in Ward 10.

After November 30, Habitat GTA will market the program to the city at-large if there are any remaining units.

Program snapshot

Habitat’s unique mortgage model, which allows housing costs to be geared-to-income with no down payment, enables tenants to unlock the benefits of home ownership.

Habitat’s model differs from traditional home ownership. Please see the chart below for a quick overview.