TCHC selling 65 homes to reduce repair backlog
Posted September 26, 2012 5:53 pm.
This article is more than 5 years old.
TORONTO – Toronto Community Housing Corp. is looking for realtors to sell 65 homes in an effort to reduce its $750-million repair backlog.
The sale of the currently vacant houses is expected to bring in an estimated $24 million.
The agency says the funds will be used to make interior, structural, and mechanical repairs in more than 12,000 homes in social-housing buildings across the city.
Minister of Municipal Affairs and Housing Kathleen Wynne approved the sale earlier this year.
A spokeswoman for the housing corporation says its capital repair needs grow by about $100 million every year.
The corporation says it can only fund about $50 million of repairs from their existing capital budget.
