SOURCE: Options for Homes

Options for Homes

June 14, 2017 12:45 ET

Options for Homes and The Rekai Centres Announce Toronto's Newest Long-Term Care Home and Affordable Condominium Site

TORONTO, ON--(Marketwired - June 14, 2017) - Options for Homes and The Rekai Centres held an event yesterday morning to announce the future site of a new affordable condominium and long term care home in Toronto's West Don Lands neighbourhood. This partnership will result in 200 condos as part of a community hub dedicated to all aspects of aging with dignity -- replacing the original Rekai Centre, located at Sherbourne and Carlton since 1988.

Heather Tremain, CEO of Options for Homes, commented, "We are particularly proud to be offering a new site for affordable condos in downtown Toronto since home ownership is a dream and a challenge for so many in this City. Through this collaboration with the Rekai Centres, we are delighted to be adding real value to our City through affordable homes adjacent to support services that will enable people to age in place."

Options for Homes will offer down payment support of up to $95,000 to all purchasers of the condos, which will be open to all but marketed to seniors and their families.

Speakers at the event included Ontario Minister of Health and Long-Term Care, Dr. Eric Hoskins; Ontario Minister of the Environment and Climate Change, Glen Murray; Sue Graham-Nutter, CEO of Rekai Centre; and Toronto Deputy Mayor, Pam McConnell. Also in attendance were staff of the various organizations and future residents of the Rekai Centre.

Tremain commented on the small distance between this new site at Front and Cherry, and the site of Options' first three condos in the Distillery District. In the 23 years since Options was founded, it has helped 3100 families become home owners with its innovative down payment support model. Tremain continued, "We are back in the place where we began and are returning to our innovative roots -- now looking at new ways to innovate the creation of communities, partnerships, and ways we make homes affordable, including co-ownership which we're eager to facilitate in this development."

Options for Homes currently has over 640 homes in construction since breaking ground on Jasper Condos in Milton, ON earlier this month. Jasper Condos has drawn interest from seniors looking to age in place in the Town of Milton, because of the value and proximity to amenities, including shops and transit.

Those looking to stay up-to-date about these and other Options for Homes developments can sign up for the quarterly newsletter at: http://www.optionsforhomes.ca/newsletter/

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