In July, the Tower Renewal Partnership (“TRP”) released Tower Renewal and Retrofit Finance in support of the Canadian Mortgage and Housing Corporation’s interest in encouraging the retrofit and renewal of Canadian post-war towers. With much of Canada’s affordable purpose-built rental housing in need of renewal, the time to act is now. However, costs – along with the need to maintain affordability – continue to be a primary barrier.
As a result, the TRP has undertaken research uncovering the financial challenges and potential solutions. In 2017, the National Housing Collaborative and the TRP produced Financial Tools for Tower Renewal, which proposed program design considerations for the National Housing Strategy programs. Now with Tower Renewal and Retrofit Finance, the TRP has taken a deeper dive into the economics of comprehensive retrofits in apartment towers.
Read the full report, linked below.