The Board of Directors for Toronto Community Housing Corporation (TCHC) announced that Tridel Builders Inc. will be the new developer partner for Phases 4 and 5 of the Regent Park revitalization following a competitive request for proposals (RFP) process.
Tridel’s plan included a $26.8-million community economic development program that TCHC believes will benefit the tenants and residents of Regent Park. The program will be shaped over the next year with regular, frequent and direct input from the community on their priorities.
“Our goal was to realize the best social and financial value for the development of this public asset, leading to the best possible outcomes for tenants and the people of Toronto,” said TCHC Board Chair Tim Murphy. “We have reached that goal through the RFP. Tridel won the contract with a plan that provides outstanding value to the Regent Park community, TCHC and the City of Toronto.”
Meanwhile, the Daniels Corporation will continue to be TCHC’s developer partner for Phase 3 of the Regent Park revitalization, and will complete all work arising from that partnership. The Daniels Corporation, Tridel and Capital Developments were the three developers competing for the contract under the RFP.
TCHC retained an external independent Fairness Commissioner, Justice Coulter Osborne, to oversee the entire procurement to ensure it was unbiased and did not favour or prejudice any one particular proponent.
“TCHC has worked to ensure the RFP process was fair, rigorous and transparent,” said President and CEO Kevin Marshman. “The process has included an unprecedented level of community involvement, reflecting our commitment to put tenants’ needs at the centre of our decision making. We thank the community for its participation and input, which has helped us to ensure that our process to select a developer partner met the needs of the Regent Park community.”