TORONTO COMMUNITY HOUSING CORP. IS STAGGERING UNDER A DEBT LOAD – WITH NO END IN SIGHT

Dumped on the city by former premier MIKE HARRIS and his Progressive Conservatives a couple of decades ago, Toronto Community Housing Corp. (TCHC) is now in way over its head.

home to 110,000 tenants
number of properties – 2,100
massive repair backlog
broken units closed, communities fractured
bouts of poor management
projected repairs – $1.6-billion over 10 years
value of public assets owned by TCHC – about $9-billion

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