The social housing agency uses its expertise to make other projects prosper

“There is a great need and great gaps in the system”

Content of the article

A social housing agency with a large stake in London has created a property development spin-off company.

Advertising

Content of the article

Indwell is now working with other housing groups and municipalities, helping them build homes through a real estate development company she started called Flourish.

Flourish is using the knowledge Indwell has gained in housing construction and delivering it at cost cost to groups and communities, said Graham Cubitt, director of projects and development for Indwell.

“We have developed a lot of experience over the past few years and have a development team experienced in site finding, the planning process and community engagement,” he said.

“We have received a lot of requests from other groups who want to develop affordable housing asking if we can help them. “

Rather than trying to make these requests into Indwell projects, the agency created Flourish.

Advertising

Content of the article

“We realized we could create a new nonprofit organization to serve real estate development,” Cubitt said.

Flourish is already working on 722 housing starts in 2022 in eight municipalities, he said. The new company is working with a municipality for senior housing in Brant and with a YWCA to build transitional housing for women in another community.

“We’re not doing transitional housing for women or Indigenous housing, but we’re taking our experience and expanding it beyond Indwell,” Cubitt said.

Although Indwell is building “very affordable” housing, charging clients around $ 550 per month, Flourish will work with a wider range of housing, including low-income market rents.

The decision to work closely with other housing groups and communities has been applauded by others in the social housing sector, saying Flourish offers services in demand.

Advertising

Content of the article

” It is an excellent idea. Creating permanent supportive housing is very difficult. Indwell has done a good job in recent years bringing together different agencies and levels of government, finding different sources of funding, ”said Abe Oudshoorn, a housing advocate in London.

“There is a great need and great gaps in the system. “

Communities working with Flourish have researched their housing needs, but may need help meeting that need, said Judith Binder, affordable housing expert at Canada Mortgage and Housing Corporation.

“There is no doubt in my mind that Indwell is a high capacity organization that can help others with development techniques,” she said.

“All these communities have done their own needs assessment. Indwell as an organization is spreading its wings and doing it successfully.

Advertising

Content of the article

Flourish as a non-profit organization charges municipalities and agencies what it costs to provide its service. If he profits from a project, the money goes to Indwell to finance the housing.

“We don’t budget to make a profit, but to break even, but we have to operate. Our clients don’t have a lot of money, they have tight budgets, they can’t hire a for-profit private sector company to do it, ”Cubitt said.

In London, Indwell is operating Woodfield Gate with 67 units, building the 72-unit Embassy Commons and will build 120 units on the site of the former Victoria Hospital on South Street. He is in talks to add 65 units to the site of the former London Mental Hospital and is also in talks for 90 more units in a downtown commercial building, Cubitt said.

The agency also plans to build 120 units in St. Thomas and 43 in Chatham and has “conversations” with Strathroy-Caradoc, Stratford, Goderich and Gray-Bruce.

[email protected]

Twitter.com/NormatLFPress

Advertising

Advertising

comments

Postmedia is committed to maintaining a vibrant but civil discussion forum and encourages all readers to share their views on our articles. Comments may take up to an hour of moderation before appearing on the site. We ask that you keep your comments relevant and respectful. We have enabled email notifications. You will now receive an email if you receive a reply to your comment, if there is an update to a comment thread that you follow, or if a user that you follow comments. Visit our Community rules for more information and details on how to adjust your E-mail settings.



Source link

Comments are closed.