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Toronto Star

She Wants To Make A Difference For Torontonians Who Need Affordable Housing

“In my experience, women bring a unique perspective with compassion, collaboration, and confidence. Our compassion and empathy enable us to see there is a better way to do development, where everyone can win and share in our success, where we can elevate and support one another,” says Sherry Larjani.

Credit: Eventgraphers

As International Women’s Day, Mar. 8, approaches, developer Sherry Larjani talks about the housing affordability crisis and the challenge it poses.


Toronto - March 4, 2023

By Tracy Hanes, Special To The Star


The project Sherry Larjani believes will be a “remarkable milestone” in her career is The Inclusive, a proposed development at 1635 Lawrence Ave. intended to become a model for affordable housing and complete communities.


After working as a designer at a Toronto luxury architecture firm, Larjani moved to real estate development and launched Spotlight Developments in 2010. Since then, she’s become an innovator and an example of how women can be leaders in the industry. In 2019, she partnered with Urban Capital to create Reina, a condo project with Canada’s all-female development team. She’s completed numerous other projects, some in partnership with other developers.


As International Women’s Day, Mar. 8, approaches, the Star asked Larjani about the housing affordability crisis and tackling the challenge it poses.


Why is working toward a solution to the affordable housing crisis a passion for you?


The importance of giving back was instilled in me by my father. Growing up in Iran, he made sure we knew how lucky we were and taught kindness as a value. I am motivated to do better for our communities and the people living in them. We are shifting the way we think about, plan, and deliver affordable housing, so we can create bigger societal changes for our shared benefit.


Affordable housing is tied to many other challenges in our city. If we can provide residents with a safe, accessible, and affordable place to live, we can also provide them with many more opportunities to thrive. Toronto will keep growing and the need for affordable housing will become more pressing. Now is the time to work collaboratively with all levels of government and bring different voices to the table through partnerships to solve this complex challenge.


What are some of the issues contributing to the problem? What needs to be done?

Affordable housing is really the symptom of a larger problem: poverty. Many Canadians are struggling with the rising cost of food, inflation, and astronomical rents. Social safety nets can only go so far, and many people don’t have strong support networks to fill in the gaps. We must look at affordable housing in a more innovative way.


How can we put people first, to develop and deliver affordable housing in a complete community model, where people can put down roots and thrive? Collaboration, partnerships, and bipartisan teamwork are necessities to make this happen.


How will the Lawrence Ave. project help address the need?


The vision for The Inclusive is to transform an old strip mall into a sustainable, complete community. We are aiming to deliver as many affordable housing units as possible, with a 60:40-per-cent split of affordable vs. market-rate units. We have partnered with trusted non-profit organizations to manage affordable units designated for diverse Canadians traditionally left out of the housing market.


Our partners include the BlackNorth Initiative, WoodGreen Community Services, Habitat for Humanity GTA, Trillium Housing, and Good Shepherd. It has been a milestone in my career to bring together such a knowledgeable, passionate team, and we are excited to put forward this model that will completely transform affordable housing delivery.


Through these partnerships, we can offer affordable units to Indigenous and Black Canadians, newcomers, low-to-moderate income families, the 2SLGBTQIA+ community, seniors, and more. The Inclusive will debut this complete community model, offering wraparound support services, such as a 24/7 daycare, employment services, seniors’ services, food programming, and professional services. We have launched Spotlight Affordable Ventures, a non-profit arm of our business to help fund future developments in this model, alongside The Aria Foundation, a charity to help raise funds for affordable housing projects.


What may women bring to the table in easing the affordability crisis?


In my experience, women bring a unique perspective with compassion, collaboration, and confidence. Our compassion and empathy enable us to see there is a better way to do development, where everyone can win and share in our success, where we can elevate and support one another. I have worked hard to develop my presence and speak up, to take a seat at the table and command it. It is through collaboration that Spotlight Development has put together such a powerful team for The Inclusive, something that the industry has not seen before. Women bring diverse perspectives. This diversity at the decision-making table will make our cities better for everyone.


Is it easier for women in the industry than it was when you first started?


I’ve been in development for 13 years and I have seen women work hard to make things easier for themselves and carve out their own paths. Though I have many supportive male peers, it still takes a lot of work to earn a place, especially for young women without an extensive portfolio or track record of delivered units. It is encouraging to see that more companies are making a concerted effort to nurture and support women leaders.


Still, there are many conversations about equality and inclusion and while it’s great that we are having these discussions, it does show there is still work to be done. Change is not an overnight process, and I am hopeful more young women will consider sharing their talents and perspectives in one of the many different disciplines that touch real estate. One way we can do this is by teaching young women about the development industry and how it can be such a transformative, rewarding space where we can enact real change in our communities.

 

About Spotlight Development


Spotlight Development is a Toronto-based real estate development company dedicated to creating innovative, inclusive, and community-driven housing solutions. Specializing in traditional market condominiums and affordable housing projects, Spotlight combines visionary design with a commitment to sustainability and community impact.

With over 10.5 million ft² of development space, representing more than $2 billion in managed assets, Spotlight Development is reshaping communities through projects that prioritize social impact and sustainability. Guided by the motto Impact Real Estate Empowering People, Spotlight is setting a new standard in the industry.


Learn more at www.spotlightdevelopment.com or connect with us on LinkedIn.

 

Senior Director, Marketing & Communications

Jasmine Ashfield

 

 


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