Affordability and Resilience: The Challenge of Tower Renewal in Private Rental Apartment Buildings Presentation
The City of Toronto is partnering with the Urban Land Institute (ULI), alongside the Tower Renewal Partnership, to bring experts to Toronto to explore one of the biggest resilience challenges facing Toronto: retrofitting our aging apartment towers. Experts from across North America will form an Advisory Panel and visit Toronto during the week of February 24 to learn about Toronto's challenges, meet with leaders on this topic, and make recommendations. These recommendations will be shared publicly at this forum on Friday, February 28 at 9am.
The Advisory Panel will focus on solutions that encourage broad investment in the improving private apartment towers while maintaining rents at affordable levels for residents.
Come and be part of the conversation about the future of Toronto's rental apartment towers as the Advisory Panelists share their findings and recommendations.
Moderator: Deputy Mayor Ana Bailão
Jim Heid, Panel Chair, Founder, Urban Green, LLC, Healdsburg, CA
Bradford Dockser, Chief Executive Office, Co-Founder, Green Generation, Bethesda, MD
Billy Grayson, Executive Director, Center for Sustainability and Economic Performance, Urban Land Institute, Washington, DC
Purnima Kapur, Adjunct Professor, Columbia University, Graduate School of Architecture, New York, NY
Bill Lashbrook, Senior Vice President, PNC Real Estate, East Brunswick, NJ
Laura London, Associate Director, Real Estate Development, Arlington Partnership for Affordable Housing, Arlington, VA
Elizabeth Propp, Senior Vice President, The Community Preservation Corporation, New York, NY
ABOUT THE ISSUE
Aging, purpose-built rental apartment buildings are the backbone of the rental stock in Canada and are home to hundreds of thousands of households with modest and low incomes. The majority of these buildings are privately owned.
As was the case for 650 Parliament in Toronto, aging infrastructure can lead to full-building displacement of residents for extended periods of times - multiple years in some cases. And investment is needed to meet ambitious climate goals to reduce building greenhouse gas emissions. Tower renewal is key in achieving both retrofits for resilience – state of repair, health and safety, as well as retrofits for climate change – deep energy retrofits that move towards decarbonization. This is a key priority in the City's Resilience Strategy.
This is the perfect moment to take stock of where we are and where we need to go in the next decade.
Therefore, the panelists will respond to the question: How can the public and private sector work together to unlock required investment, and drive retrofits of Toronto’s towers while maintaining existing rents?