The mandate is to deliver projects that foster community renewal efforts by enabling the marketing and enhancement of surplus land assets owned by the City and/or strategically acquiring properties poised for redevelopment. The mandate of the MDC will specifically be focused on three areas:
- Unlocking municipal properties for housing development
- Supporting strategic long-term planning
- Delivering public value
The MDC will also allow for the City to conduct capacity building with non-profits actively engaged in providing affordable housing.
The newly formed MDC will not function merely as a site-specific developer but as an enabler of systemic change. Collaborating with a range of stakeholders, including private developers and non-profits, the MDC will establish a framework that will be applied to multiple strategic locations, ensuring the initiative has a continuous and long-term impact.