TORONTO–(BUSINESS WIRE)–DREAM UNLIMITED CORP. (TSX:DRM) (“Dream”) today announced the creation of the Dream Community Foundation (the “Foundation”), a non-profit organization dedicated to improving the well-being of individuals, families, and neighbourhoods across Canada. In conjunction with Dream, the Dream Community Foundation will support and expand Dream’s overall impact mandate with a specific focus on building inclusive communities through resident and community benefits and programming that go above and beyond traditional property management.
The Foundation will be supported by a seed commitment of $25 million from the Cooper family, which will be donated over the next five years, continuing the Cooper family’s commitment to building more inclusive communities. As one of Canada’s most innovative real estate companies, Dream is focused on developing and operating properties by incorporating affordable and attainable housing, fostering inclusivity, and managing resource efficiency, while pursuing sustainable market returns.
“Over the past few years, Dream has made significant strides in creating low carbon, affordable and attainable communities in Canada, including Zibi, the West Don Lands and our recent multi-family acquisitions including Weston Common and 9 other apartment buildings,” said Michael Cooper, Founder of the Dream Group of Companies. “Now, with the Dream Community Foundation, we can build on Dream’s impact goals and co-create with residents in neighbourhoods across the country to make these communities more inclusive.”
Working in partnership with the Dream Group of Companies (collectively Dream Unlimited Corp., Dream Impact Trust, Dream Impact Fund, and Dream Office REIT) as well as existing registered charities, local community organizations and non-profits, the Foundation will support existing initiatives and programs, in addition to creating its own. These initiatives and programs will focus on four pillars: Affordable Living, Health & Wellness, Education & Skills, and Culture & Belonging. Together with residents and local stakeholders in the community, the Foundation will develop inclusive programming and services.
The Foundation held its first event, a three-day multicultural holiday celebration at Dream’s Weston Common, in partnership with the Weston Village Business Improvement Area and Artscape Weston Common. The event highlighted various winter holidays celebrated in the community, including Kwanzaa, Diwali, Hanukkah, Christmas, and Lunar New Year, welcoming over 600 residents. Further programming and partnerships will be developed based on residents’ feedback and expanded to other communities through 2022 and 2023.
In Ottawa, the Foundation will also be working with a local affordable housing partner to provide on-site community programming and support to residents of the LeBreton Flats Library Parcel development. Programming will be delivered to further community well-being for all tenants in affordable units and rental units to foster a thriving and resilient community. Programming will specifically be geared towards Indigenous peoples, veterans, new immigrants, women and children, and adults with cognitive disabilities.
“We’re incredibly excited by the opportunity to make a real difference in communities like Weston Common,” said Krystal Koo, Chair of the Board of the Dream Community Foundation. “By investing in artistic, educational, and food security-based programs and services, we hope to strengthen community bonds and improve health outcomes.”
The Dream Community Foundation’s work will be assessed in line with Dream’s impact Management Framework, with a focus on alignment with the United Nations Sustainable Development Goals. In addition, the Foundation will add assessment through the lens of the World Health Organization’s Social Determinants of Health. These reflect the socioeconomic and cultural conditions that contribute to health and well-being beyond pure healthcare access and quality. The Foundation will also subject itself to Charity Intelligence Canada’s Social Impact Ratings system to ensure meaningful, quantifiable, and accountable impact metrics on an organization-wide basis. The Foundation will produce an annual report summarizing how its programs and services have delivered on these metrics.
The Foundation is currently incorporated federally as a not-for-profit corporation and is in the process of seeking to become a registered charity.
For more information, visit our website.
About Dream Unlimited Corp.
Dream is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $13 billion of assets under management across three Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We also develop land and residential assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. For further information please visit www.dream.ca.
Contacts
Dream Unlimited Corp.
Krystal Koo
Chair, Dream Community Foundation Board
(416) 365-3535
kkoo@dream.ca
Kim Lefever
Director, Investor Relations
(416) 365-6339
klefever@dream.ca