Moishe Alexander’s Blog

Posts Tagged ‘multi-residential and condo development projects

A good number of well-intentioned families have put off the thoughts of purchasing a home. They are waiting for a time in the distant future when house prices

are stable and job security is no longer a joke. Unfortunately, they are missing out on a great time to buy.

Moishe Alexander says now is the right time

Why is it such a great time to buy? The truth of the matter is that there have never been better deals on real estate in Toronto. Supply is unlimited and demand is at an all time low which means that there are a lot of great deals out there. But just because there are good deals doesn’t mean that YOU should be buying. The following will help you determine whether or not now is a good time for you to buy

take a look:  http://www.articlesbase.com/real-estate-articles/real-estate-in-toronto-is-now-a-good-time-to-buy-955683.html

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Moishe Alexander is inspired by a project (involving the Central Urban Métis Federation Inc.) that took care of housing needs and quality of life issues. As President of Canadian Funding Corporation, Moishe Alexander strives to provide funding for multi-residential and condo development projects. Through his efforts, Mr. Alexander has funded mortgages up to 92% to help keep families in their homes. Moishe Alexander and CFC are together a true private lender. Alexander listens to the goals of the client to structure a custom deal that suits their specific case.

As President of Canadian Funding Corporation, Moishe Alexander strives to provide funding for multi-residential and condo development projects. Through his efforts, Mr. Alexander has funded mortgages up to 92% to help keep families in their homes. Moishe Alexander and CFC are together a true private lender. Alexander listens to the goals of the client to structure a custom deal that suits their specific case.

Central Urban Métis Federation Inc.

Two affordable housing projects in Saskatoon not only help low- and middle-income families meet their housing needs, they gave unemployed men and women trades training and hands-on construction experience. CUMFI—the Central Urban Métis Federation Inc. is a charitable, non-profit organization founded in 1993 that represents Métis people in Saskatoon.

The Affordable Housing Solution

CUMFI’s two affordable rental projects involved the acquisition and renovation of apartment buildings that required major repairs in Saskatoon’s Pleasant Hill inner-city neighbourhood.

The first affordable housing project was completed in 2004. CUMFI purchased and renovated three apartment buildings to create 36 affordable housing units for low- to middle-income families—many of them single-parent families.

The 2004 project is close to amenities. The project is drug and alcohol free. Working in partnership with Saskatoon Police Services, the project is designed to be crime-free, to ensure the safety of residents.

The project offers more than living spaces. It is a centre for services that include individual counselling, housing,addiction services and employer referrals; career development; parenting and life skills; sharing circles and a clothing depot.

Capital cost for the project was $2,087,139.Through the Affordable Housing Initiative (known as Centenary Affordable Housing Program —CAHP— in Saskatchewan), CMHC and the Saskatchewan Housing Corporation (SHC) provided $1,443,000 for the project. An additional $357,000 came from the Residential Rehabilitation Assistance Program (RRAP), a program cost-shared by CMHC and SHC.The City of Saskatoon contributed $180,000 through the CAHP, as well as contributions from the City’s Enterprise Zone and Future Property Tax Abatement programs of about $50,000. CUMFI provided $100,000 cash and in-kind donations.

Helping to make the project a reality was the successful development of a work-education training program in partnership with the Dumont Technical Institute (DTI), Métis and Employment Training Service Inc. (METSI), the Saskatoon Tribal Council (STC) and Canada-Saskatchewan Career and Employment Services (CES).The partnership enabled people receiving employment insurance or social assistance to take trades training and gain hands-on experience in the renovations.

In 2007, CUMFI completed a second affordable housing project. Again, working with three levels of government, CUMFI purchased and renovated two apartment buildings in the Pleasant Hill neighbourhood.The project, funded by CAHP and Service Canada—National Homelessness Initiative, created 34 affordable housing units and eight transitional housing units.The affordable units are for low-income households, with emphasis on housing for families with children—including single parents— in a supportive setting close to schools and services.

Total capital cost was $1,755,750. CAHP provided funding of $1,319,750 for the project and the National Homeless Initiative $350,000.The City of Saskatoon rebated $30,000 in building fees and gave the project a five-year tax abatement.


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