PRESS RELEASE
2 August 2023

Houselink And Mainstay Mura-Funded Acquisition Of 194 Vaughan Road

RA
Robins Appleby LLP

Contributor

Robins Appleby LLP is a trusted and highly regarded law firm focused on helping clients resolve important issues. This is why we take a client-centric approach, striving to gain an intimate understanding of your business, industry and company culture and your personal goals. No matter how complex the issue, our personalized approach, responsive service, strong interpersonal skills and sophisticated legal expertise translate into favourable results in both the boardroom and in the courtroom. The relationship of trust we enjoy with our clients, along with our depth of legal experience and nearly 70 years of acknowledged leadership, experience and integrity leads our clients to rely on us as their businesses develop and expand. We provide a wide range of legal services including: Business Law; Estate & Succession Planning; Litigation; Real Estate; and Tax. Legal services are provided across Canada and internationally through our membership in the Legal Netlink Alliance.
Managing partner and head of the affordable housing group, John Fox, and senior associate, Rachel Puma, assisted Houselink and Mainstay Community Housing on their acquisition of a 3-storey, 22 unit apartment building at 194 Vaughan, Toronto.
Canada

Managing partner and head of the affordable housing group, John Fox, and senior associate, Rachel Puma, assisted Houselink and Mainstay Community Housing on their acquisition of a 3-storey, 22 unit apartment building at 194 Vaughan, Toronto. Houselink and Mainstay Community Housing have committed to maintaining the average affordability across the units at no more than 80% of average market rents for the next 99 years.

The acquisition of 194 Vaughan was partially funded through the City of Toronto Multi-Unit Residential Acquisition (MURA) Program, which provides forgiveable loans that secure 99 years of affordability for these rental units. Earlier this year, the City of Toronto launched its second annual Request for Proposals for the MURA program with $21.5 million in City funding and incentives available to qualified non-profit housing providers. John and Rachel are thrilled to be assisting various clients with their MURA-funded acquisitions.

Contributor

Robins Appleby LLP is a trusted and highly regarded law firm focused on helping clients resolve important issues. This is why we take a client-centric approach, striving to gain an intimate understanding of your business, industry and company culture and your personal goals. No matter how complex the issue, our personalized approach, responsive service, strong interpersonal skills and sophisticated legal expertise translate into favourable results in both the boardroom and in the courtroom. The relationship of trust we enjoy with our clients, along with our depth of legal experience and nearly 70 years of acknowledged leadership, experience and integrity leads our clients to rely on us as their businesses develop and expand. We provide a wide range of legal services including: Business Law; Estate & Succession Planning; Litigation; Real Estate; and Tax. Legal services are provided across Canada and internationally through our membership in the Legal Netlink Alliance.

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