Tenants of Forge and Foster join together to demand support for protecting 71 units as investment company faces financial issues
Posted March 18, 2024
ACORN members and tenants at 211 York Road held a press conference today to bring attention to the financial difficulties facing their landlord of 2 years Forge and Foster.
On January 25, tenants at the 39 unit walk up apartment in Dundas received a notice from the financial institution People’s Trust Company that 211 York Investments Inc. had defaulted on a mortgage payment and to pay rent to them moving forward.
On February 26th, tenants at the 32 unit apartment at 72 James Street N received a letter from KSV Restructuring notifying tenants that 72 James Investments Inc. was issued a receivership order by the Ontario Superior Court of Justice.
Both 72 James St N and 211 York Road are part of a large portfolio owned by Forge and Foster that have been up for sale since last year.
211 York Tenant Union is demanding that:
Forge executives agree to a meeting as soon as possible to discuss their cooperation in finding a solution for the building that results in community or non-profit ownership
72 James and 211 York ACORN members are demanding that:
The City of Hamilton fast track plans for an acquisition fund to support at risk buildings (house vulnerable tenants, tenants paying under market rent) to become tenant, city or non-profit owned
Thank you to Ward 13 Councillor Alex Wilson for joining in support! More to come!
Press hits coming soon!