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 in 2017 is to issue $658 000 worth of bonds. These bonds will cover part of the cost of purchasing the property as well as the fixed acquisition costs. Start-up costs are covered by donors and the tireless work of our committed volunteers. 

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 2017 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.