The sources of the issue are well known: speculation, concentration of land and property ownership, financialization, commodification, renoviction, short-term tourist accommodation, globalization, tax incentives, and discrimination. The answers to the problem are also known: community housing, land trusts, lease registries, rent control, fair taxation, humane and social urban planning, inclusion and diversity, etc. “Although more and more political, financial and legislative players are finally acknowledging the issue, the solutions so far remain quite modest when compared to the magnitude of the task at hand,” says Fayad. “While the public authorities own a large part of the responsibility, the community housing sector must have the courage to recognize that it wasn’t as proactive and entrepreneurial as it could have been. We have the means at our disposal to begin mitigating the crisis in part. The sector’s legitimacy requires acting without delay and assuming a leadership position regarding this matter by taking the necessary measures for change.” It is within this framework that The Community Housing Transformation Centre was created and has operated for the past four years. “Using ambition, without illusions, CHTC works to facilitate the quantitative development and qualitative evolution of community housing,” says Fayad. “Whether through the provision of funding or services, all regions have benefited from more than $28 million in allocations since our creation.” According to CHTC’s partners and numerous sector stakeholders across Canada, significant contributions are being made to move the needle towards the transformation of the sector by using more of the sector’s own resources to leverage 63 AUG 2023 | BUSINESS ELITE CANADA
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