How Alternative Asset Classes are Shaping Neighbourhoods: Social - - PowerPoint PPT Presentation

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How Alternative Asset Classes are Shaping Neighbourhoods: Social - - PowerPoint PPT Presentation

Sep 02, 2023 573 likes •859 views

How Alternative Asset Classes are Shaping Neighbourhoods: Social Housing John Fox, Partner Robins Appleby & Taub LLP Land and Development Conference 2013 OUTLINE OF PRESENTATION Can social housing drive a development? Why and when

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How Alternative Asset Classes are Shaping Neighbourhoods: Social Housing

John Fox, Partner Robins Appleby & Taub LLP

Land and Development Conference 2013

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OUTLINE OF PRESENTATION

  • Can social housing drive a development?
  • Why and when is this likely to happen?
  • What’s unique about housing driven

developments?

  • What lessons can we apply?
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Can Social Housing Drive a Development? YES

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Why and When Does this Happen?

  • Low Density Housing
  • Economic and Social Isolation
  • Energy Inefficient Buildings
  • High Cost to repair (FCI)
  • Land Owner is willing to do Something
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Case in Point: Since built, Regent has had limited Capital Investment –

  • Contributes to a growing capital backlog.
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Unique Aspects of Housing Driven Development

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  • 1. The Amazing Community
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  • 2. The Capital Backlog
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  • 3. The Revitalization Equation

Revenues ≥ Costs

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Revenues ≥ Costs Mkt Units * Profit p.u ≥ Rental Units * Cost p.u.

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Revenues ≥ Costs Mkt Units * Profit p.u ≥ Rental Units * Cost p.u.

Replacement Units Mandated

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Revenues ≥ Costs Mkt Units * Profit p.u ≥ Rental Units * Cost p.u.

Replacement Units Mandated Costs per unit determined by trade pricing

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Revenues ≥ Costs Mkt Units * Profit p.u ≥ Rental Units * Cost p.u.

Replacement Units Mandated Costs per unit determined by trade pricing Profit based based on location (plus)

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Revenues ≥ Costs Mkt Units * Profit p.u ≥ Rental Units * Cost p.u.

Replacement Units Mandated Costs per unit determined by trade pricing Profit based based on location (plus) Number of Market units function of planning approval

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Revenues ≥ Costs Mkt Units * Profit p.u (+SUBSIDY) ≥ Rental Units * Cost p.u.

Replacement Units Mandated Costs per unit determined by trade pricing Profit based based on location (plus) Number of Market units function of planning approval Subsidy drains repair program

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Lessons We can Apply

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  • 1. Density and Diversity Assets - Phase 1 Unit Distribution
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  • 2. Partnerships and Collaboration– Working with Government and the Private Sector
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  • 3. Build Support and Harness the Awesome talent that resides in

the community.

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  • 3. Let MAGIC happen

MLSE Supported Sports Field

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Daniels Spectrum Cultural Hub

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Regent Park Aquatic Centre

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Regent Park Community Centre

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Paintbox Bistro

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  • 4. You can only Start by Starting

And the Plan will evolve...

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When do you know its working?

Editor Sarah Fulford: In the Summer I take visiting friends to Kensington Market or the Brickworks. If they have young kids, Centre Island...Now there’s a new destination on my list, Regent

  • Park. ... Its not just a fascinating

and unique experiment in mixed use housing, it’s also a SURPRISINGLY FUN PLACE TO HANG OUT.

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John Fox Partner

Robins Appleby & Taub LLP 416-360-3349 jfox@robpp.com