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MGRASS's avatar

Thank you Neil for your story. Here’s a little excerpt from a letter that was sent to Mayor Sutcliffe recently.

“You are just completing 230 Queens at which is a converted downtown office tower turned into a temporary housing building for newcomers. The space will hold 143 beds with a 5 year lease for $4.38M (including $1.48M renovation) thereby costing $6,125.87 per bed/year. Normalizing the numbers from the proposed $15M Newcomers centre (sprung structure) will cost over $20,000 per bed/year. How is that value???

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MGRASS's avatar

Here is the math:

1645 Woodroffe Sprung Structure

$15,000,000/5 years = $3M/year

$3M/year/150 beds = $20,000/year/bed

QUEEN ST

$4.38M(inclusive of $1.48M renovation)

$4.38M/5 years = $876K/year

$876K/year/143 beds = $6125/bed/year

I don't know the on-going O&M costs(utilities, maintenance, cleaning, food, security etc.) of each. So both are net of on-going O&M costs. This is just key in hand for 5 years.

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