Our building

Your bonds will help house over 50 tenants and help keep Parc Extension diverse and dynamic for generations. Here's a look at our target property.

 
 
 

Target property

Characteristics:

  • Number of units: 22
  • Lot area: 4000 sq ft
  • Heating: electric hot water
  • Hardwood flooring
  • Renovated kitchens
  • Laundry room on site
  • A wheelchair accessible common space
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Amenities and services

Brick by brick helps to strengthen community by offering:

 
  • Affordable, spacious, clean, and well maintained apartments
  • Wheelchair access to common space
  • Green spaces and playground
  • Community garden and food bank
  • Access to municipal recreational facilities
  • Access to college libraries and continuing education
  • Daily breakfast programme
  • Childcare facilities and support
  • After school programming
  • Training in cooperative management
  • Multilingual translation service (Greek, Urdu, Hindi, Creole, French, English)
  • Access to communications and conflict resolution training
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Financial projection

Our objective is to issue $500 000 worth of bonds in 2018. These bonds will cover part of the cost of purchasing the property as well as the fixed acquisition costs.

Brick by Brick's community bonds are secured against its assets: the land and building that it owns.

Target building appraisal:

  • Municipal evaluation: $1.6M
  • Market value in 2017: $2.1M
  • Gross income: $170 000
  • Annual operating cost: $70 000
  • Net income: $100 000
  • Target mortgage length: 25 yr
  • Refinancing interval: 5 yr

Financial projection overview:

2015 Appraisal, including 2019 renovations, excluding appreciation

Évaluation foncière, Municipalité de Montréal. En vigueur pour les exercices financiers 2017-2018-2019

Insurance:

A copy of our comprehensive building and liability insurance will be available upon request.