tOp: vic paHwa; tOm arban OctOber 2016 BCBusiness 83
private developer, who might supply
a few social housing units. The land
would be worth more to the city if it con-
trolled the development, he thought,
so they brought on a developer-builder
partner—the Daniels Corporation.
TCHC put up the land, waived the
usual development and infrastruc-
ture fees and guaranteed construc-
tion loans—which meant the developer
didn't need a high level of presales in
order to get "nancing, according to
Guslits.
TCHC formed a legal partner-
ship with the Daniels Corporation, in
which the developer promised to build
about 5,000 units of housing—includ-
ing the 2,000 or so units of social
housing that needed to be replaced.
in 2005, the toronto com-
munity Housing corporation
marked crime-ridden regent
park as its first regeneration
project. tcHc put up the
land, waived the usual devel-
opment fees and guaranteed
construction loans—which
meant the developer didn't
need a high level of presales
in order to get financing
WhaT noT To buILd Regent Park before
demolition and after redevelopment
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