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TD Ready Challenge grant announcement

TD Ready Challenge grant announcement

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Fred Victor is proud to be one of the recipients of a $1 Million TD Ready Challenge grant. Over the next three years as new by-laws come into force, we will use these funds to ensure that – Rooming Houses in Toronto remain a vital stream of informal transitional housing throughout the city of Toronto.

For hundreds of years newcomers to Canada have relied on rooming houses as a place to land and get settled. Our goal is to keep rooming houses as an affordable housing option and rebuild their status as good and vital neighbours.   

New bylaws affecting rooming houses came into effect April 1,2024. In the long term these bylaws will make properties safer and owners more accountable. But in the short term there is a significant risk of loss. Working with the City of Toronto and rooming house owners we will mitigate that loss.

Fred Victor has experience, knowledge and connections. We operate many buildings that provide housing and shelter. We can offer specialized and tailored support to operators at a unique moment in time. Whether it’s finding the right contractor, applying for financing, meeting health and safety standards or managing the needs of tenants we’ve done it all and we can lend a hand. We’re here to make sure that no rooming house owner sells due to preventable frustrations.

Fred Victor has a 130-year history of innovation to achieve progressive social change with the city’s most vulnerable people.

In a period where virtually no affordable housing was being built, Fred Victor brokered partnerships to secure four new affordable housing sites: Dawes Road, Mortimer Avenue, Palace Street the former site of the PanAm Athletes Village and in a private public partnership we will launch 86 new units of deeply affordable supportive housing through motel conversion on Kingston Rd in 2024.

While we create and advocate for the creation of much more new affordable housing, we will also ensure that what exists is protected and recognized.

This TD Ready Challenge grant will help us to deliver on our vision towards helping ensure a future where everyone has access to safe, affordable housing.

Learn more about the TD Ready Challenge at td.com/readychallenge.

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