Our goal is to continue expanding the Reside model both locally and nationally. In 2020, our goal is to acquire and renovate two additional properties, of which at least one will focus specifically on adult residents. The first potential property, which is located within the Greater Toronto Area (GTA) would be turned into a three or four-bedroom property for individuals at risk of homelessness.
The second potential property comes from a pool of potential properties located in Winnipeg. The intention is to run this property as affordable housing for Indigenous women who are fleeing violence. In both cases, reputable social enterprise construction companies will use the renovation as a vehicle to train and employ individuals with barriers to employment. We will also continue to prioritize green-building and accessibility on both projects. In order to nationally expand Reside, Raising the Roof is committed to identifying at least three new properties in cities across Canada in 2021.
Ultimately, the goal is for the Reside model to become financially self-sustainable over time. This is achieved by funneling the affordable rent collected from each newly renovated property towards the renovation of additional properties.