Affordable Housing Initiative
Affordable Housing Summer Update
The summer is here, but that doesn’t mean construction work on The Mustard Seed’s Affordable Housing Initiative has taken vacation.
Nearly a full year has passed since we broke ground with a celebration that was attended by hundreds of dignitaries, staff, volunteers and community members. In the months since, a great deal of work has taken place. In early July, the goal of finishing the below-ground parkade levels was achieved, with the main floor slab at street level now nearing completion. Soon, the main and second floors will done, and the building will enter a new phase of development. From here, the pace will pick up substantially as we begin working on the 10 residential floors.
The Mustard Seed’s Affordable Housing Initiative continues to progress on budget and on schedule.
In order to ensure that rents are as affordable as possible, The Mustard Seed has embarked on a $20 million capital campaign to eliminate the mortgage on this property. To date, we have raised almost $11.8 million toward our $20 million goal.
We expect the building’s first residents to move in roughly towards the end of 2013 or beginning of 2014, and we can hardly wait for that day. As wonderful as the groundbreaking celebration was, it will pale in comparison to the excitement and pure joy of the day when we can welcome the first 224 residents into their new homes!