Horizon North Logistics Inc. Signs Letter of Intent with the City of Toronto for Modular Supportive Housing Initiative
Horizon North Logistics Inc. announced that the Corporation has signed a non-binding letter of intent with CreateTO relating to the design, delivery and installation of 110 modular units of permanent supportive housing (the "Pilot Project") by Horizon North.
Revenue from the Pilot Project is expected to be between $17 million and $20 million, with a first group of units targeted to be ready for occupancy late in the third quarter of 2020 and a second group following in the fourth quarter of 2020. Manufacturing for the Pilot Project will be undertaken in Horizon North's NRB Modular Solutions 'center of excellence' in Grimsby, Ontario.
"The modular construction process provides a rapid, innovative solution to the endemic issue of affordable housing in many areas of Canada," says Rod Graham, President and Chief Executive Officer of Horizon North. "Horizon North has had the opportunity to construct 664 supportive housing units in the City of Vancouver and 797 more units across the province of British Columbia. We are proud to bring that experience to providing critical, made-in-Ontario solutions for the City of Toronto."
Added Mr. Graham, "As the COVID-19 pandemic continues to affect the lives of all Canadians, Horizon North stands ready with our national platform of modular solutions to provide fast, high-quality affordable housing that can contribute to safety and security. We believe every Canadian deserves a home and appreciate the leadership role taken by the City and all levels of government on this initiative."
"As the Mayor of the fastest growing city in North America, it is vital that we have adequate access to housing for all of our residents," says Toronto Mayor John Tory. "Modular housing is one way in which we can create more housing, much faster. The COVID-19 pandemic has made it clear that there is a high demand for supportive housing for vulnerable residents in our city and that we need to start building it immediately. That is why, I am proud that my Council colleagues and I approved an implementation plan that will create 110 modular homes that will be ready for occupancy this September."
"The bold vision and targets outlined in our City's HousingTO 2020-2030 Action Plan are moving forward with significant steps only months after the HousingTO plan was approved by Council," says Deputy Mayor Ana Bailão, (Ward 9 Davenport), Planning and Housing Committee Chair. "These 110 modular homes will provide stable and affordable homes as well as support services to individuals experiencing homelessness, while also reducing pressure on the City's shelters – particularly at a time when there is urgency to fast implement these innovative housing approaches and manage this crisis with long lasting solutions. It is a cost-effective approach which delivers better health and housing outcomes. We're moving forward on our commitment to ensure that Toronto is a place where families and individuals can live in safe, well-maintained and affordable housing."
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