MURA Funded Acquisitions Abound

In June 2025, Robins Appleby’s affordable housing team led by John Fox had the privilege of acting for New Commons Housing Trust Inc.(a non-profit housing entity established by New Market Funds to preserve and expand affordable housing), in the complex acquisition of an 82-unit apartment building located at 182 Jameson Avenue in downtown Toronto. The transaction was facilitated by Rachel Puma (Partner) and Stephanie Lanz (Associate), and required coordinated efforts involving three separate lenders as well as our client’s corporate counsel in British Columbia.

The $17.63 million acquisition was principally financed through a significant contribution of over $11 million from the City of Toronto’s Multi-Unit Residential Acquisition program (MURA). MURA provides forgivable loans that secure 99 years of rental affordability and offer the added benefit of property tax relief on affordable units. This program has proven to be a powerful tool in preserving Toronto’s affordable housing stock, creating mutually beneficial outcomes for governments and housing providers alike. The acquisition protects 82 households from displacement and ensures long-term affordability in a high-demand downtown neighbourhood.

In addition to the MURA funding, the acquisition was supported by both institutional funding and a private loan negotiated by our team. The successful closing of this deal underscores Robins Appleby’s ability to manage multi-party, multi-jurisdictional transactions with precision and professionalism. However, this accomplishment could not have been achieved without the knowledge, persistence and hard work put in by the New Commons Housing Trust team, whose leadership in sourcing the property and commitment to preserving long-term affordable housing have been instrumental in securing a more inclusive future for our City.

This acquisition reflects our deep expertise in this space as it is the fifth successful MURA-funded acquisition completed by our team since the program’s inception, with four more in the works this year. Robins Appleby’s housing group is proud to continue championing impactful affordable housing projects and look forward to guiding more clients through MURA acquisitions in the months ahead.