How it Works
Register Now
Tired of paying down your landlord’s mortgage and want to start building your own equity?
Frequently Asked Questions
The need for entry level housing is great. There is a growing affordability gap – the difference between housing prices, which have increased 75% and family incomes, which have increased only 5%, both over the past decade.
The three founders of Trillium Housing, Joe, Richard and Fred, have years and years of experience in mortgages, affordable housing, real estate and construction. We put together the Trillium model when we saw that so many people are not able to fulfill their dream and own a home. The gap between their income and house prices has become too big. So we looked for a way to fit in seamlessly with quality housing developers. We wanted to use a financing tool – a mortgage – that people are familiar with. We wanted it to be easy to administer. We don’t need government dollars to make it work (but it’s nice to have extra help for some families!). And we want a way for local investors to be able to invest in a housing project and get a fair rate of return AND know that they are helping a lot of people to fulfill their housing dream.
Trillium Housing Non-Profit is a social enterprise and every dollar Trillium Housing earns is reinvested back into more affordable housing. We manage our non-profit’s funds on a legacy basis and ensure that all activities are focused on the creation of housing affordability.
We think we’ve put together something that fills a growing market need. And we feel good helping people get into homeownership.
We have pool of Trillium Mortgage financing available at each of our projects. We try to match up available funding with your particular need to bridge the gap between what you can afford and the price of the home.
The chart below gives you some example numbers.
| Housing Affordability Forecast* | |||
| 1 bedroom | 2 bedroom | 3 bedroom | |
| Home Price | $358,900 | $420,900 | $551,900 |
| Downpayment | $17,945 | $40,000 | $37,595 |
| Trillium Mortgage | $80,955 | $105,900 | $214,305 |
| Monthly Savings | $420/month | $490/month | $1020/month |
| First Mortgage | $260,000 | $275,000 | $300,000 |
| Monthly Mortgage Payment** | $1,317 | $1,320 | $1,442 |
| Other costs annual | $3,500 | $4,500 | $5,000 |
| Household Income*** | $54,080 | $46,000 | $63,000 |
| *Based on actual Trillium Project
**Meridian 5 yr closed, fixed rate – 3.15%. ***33% of income to housing costs |
|||
In addition to those two government criteria, you also have to meet normal mortgage financing requirements. And we’ll want to make sure the home you want is the right fit (not too big or too small!) You’ll meet with our mortgage broker to make sure that a Trillium Mortgage is right for you.
The Team
Trillium Housing has the ability to execute its strategy due to the unique skills and experience of its highly-professional management team. Joe, Richard and Fred are dedicated to excellence, integrity and effectiveness, as reflected in their history of achievements. The team has an excellent reputation in the market and possesses an invaluable network of contacts in development, in government, with non-profits and in finance.
Trillium Housing’s principal entity is Trillium Housing Non-Profit Corporation. Trillium Housing Non-Profit Corporation makes project investments and holds the long term equity and the Trillium mortgages.
Joe Deschênes Smith
- City of Toronto Act, Ontario Planning Act, Building Code, Residential Tenancies Act
- Non-profit Housing financing from Infrastructure Ontario
- Ontario Surplus Land Registry for Non –profits
- Former Board Director, Woodgreen Community Services
- 7 Affordable ownership housing projects
Richard Owen
- Over $1 billion in North American real estate joint ventures
- Toronto Community Housing Real Estate Portfolio Strategy
- Regent Park Redevelopment Plan
- Over 2,000 market houses
- Administered over 3,000 affordable ownership 2nd mortgages
- Current Board Director of Meridian Credit Union
- 12 affordable housing projects
Fred Heller
- Developed over 1,500 residential units
- Certified appraiser
- Project management/construction management:
- Commercial, retail and industrial: over 500,000 square feet
- Residential: over 2,000,000 square feet
- Project Manager of Adelaide Hotel Toronto (previously Trump International Hotel + Tower)
