In 2015, the predominantly visible minority immigrant community of Herongate, in Ottawa, Ontario, was slated for redevelopment by its landlord, Timbercreek Asset Management. This redevelopment involved mass eviction of the incumbent tenants, demolition of the existing affordable housing and its replacement with luxury rentals, which, by all indications, are beyond the financial reach of the former Herongage tenants. This paper seeks to problematize large-scale residential real estate redevelopment in Canada and examine its impact, using the Herongate situation as a case study. Among other things, it profiles the Herongate community, its history and present redevelopment, and explores the legal framework, and the limits thereof, constraining mass evictions of this type in Ontario. The findings indicate that the selection of Herongate for redevelopment was not fortuitous; generally, racialized and immigrant communities like Herongate are disproportionately likely to be selected for large-scale redevelopment projects, and thus subjected to mass-evictions. Further results suggest that the dissolution of the Herongate community – and the attendant dislocation of its members – has exacted a pronounced social and economic toll and compounded the racial discrimination already experienced by the former Herongate residents, most of whom are visible minorities. The paper concludes with an appeal to imbue the redevelopment process with a greater regard for social justice, and a right to housing as a policy solution to address the injustice caused by real estate redevelopment.
The Use of Listed Real Estate Securities In Asset Management