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February 21, 2003
Province to contribute $9.3 million to redevelop Don Mount Court
  
The City of Toronto is pleased to announce that the Government of Ontario is
contributing $9.3 million to assist the Toronto Community Housing Corporation (TCHC) in the redevelopment of Don Mount Court, a
232-unit public housing complex located in downtown Toronto. Don Mount Court
was part of the transfer of assets to the City under the Social Housing Reform
Act in January 2001.

"The City welcomes the contribution of $9.3 million in funding from the Ontario
government to assist in the redevelopment of Don Mount Court," said Deputy
Mayor Case Ootes.

Don Mount Court is a complex comprising primarily low and mid-rise apartments
and townhouses near Dundas Street East and Broadview Avenue. The housing
complex is operated and managed by the Toronto Community Housing Corporation.

During the past two years, it has been discovered that Don Mount Court has
serious structural damage. As a result, the TCHC has identified that
redeveloping the site would ensure the continued health and safety of residents
and is a more cost-effective solution. In 2002, the TCHC initiated a
consultation process with the residents, the local community and other
stakeholders to move the redevelopment forward. Today's contribution from the
provincial government is a critical component in accomplishing the
redevelopment of Don Mount Court.

The funding being provided by the Ministry of Municipal Affairs and Housing
will be used to defray a portion of the costs associated with redevelopment of
Don Mount Court. The remainder of the projected redevelopment costs will come
from TCHC capital funds, TCHC borrowing, equity raised through the
redevelopment, and additional housing on the site.

The City's Policy and Finance Committee today approved a report from the
Commissioner of Community and Neighbourhood Services recommending the City's
acceptance of the funding from the Ontario government by March 31, 2003. The
funding has no impact on the City's current 2003 operating and capital budgets.
Toronto City Council will review the full redevelopment proposal later this
Spring.


Media Contact
Phil Brown
General Manager, Shelter Housing and Support,
416 392-7885

Derek Ballantyne
Chief Executive Officer, Toronto Community Housing Corporation,
416-981-4220

 

 

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