KingSett Affordable Housing Fund invests in the creation of high-quality housing to address the escalating issue of housing affordability in Canada. The Fund seeks stable, risk-weighted returns by scaling a portfolio of urban housing communities with a meaningful affordability component. Investments include net-zero development projects and income-producing properties that are operated in partnership with community agency groups.
Rising rents in major markets are outpacing income growth, making housing less affordable. Under significant pressure to address this issue, all levels of government are working toward deploying new programs.
Canada faces a persistent housing shortage as new construction lags population growth. Regulatory hurdles and lengthy approvals – especially in high-density urban areas – has further slowed development.
Since the Fund’s inception in 2020, KingSett has developed relationships and specialized expertise in navigating a complex landscape to deliver scale, high-quality, purpose-built multi-residential housing with a meaningful affordable component.
In addition to addressing affordability, the Fund is committed to sustainability through the development of zero-carbon design projects and implementation of geothermal systems.
West Square Phase 1 is a purpose-built rental community in Toronto's Islington-City Centre West neighbourhood, delivering 494 new homes, including 217 affordable rental units. The development is powered by a shared geothermal system, features green roofs and EV charging infrastructure and achieved the Canada Green Building Council's Zero Carbon Building - Design Standard. West Square Phase 1 is the first completed development of the KingSett Affordable Housing Fund.
West Square Phase 2 will build on the vibrant community established through Phase 1, adding 641 purpose-built rental homes across two additional buildings. Designed to meet the Canada Green Building Council's Zero Carbon Building - Design Standard, Phase 2 will utilize a fully electric, low-carbon mechanical system as KingSett continues to expand housing at West Square.
50 Wilson Heights is a transit-oriented rental housing community being developed in partnership with Greenwin on City of Toronto Housing Now lands. Located adjacent to Wilson Station, the project will deliver 767 purpose-built rental homes and include a childcare centre, community space, retail uses and public parkland. Designed to support the City's housing and climate goals, the development targets the Toronto Green Standard and will be serviced by a geothermal energy system.
Birchmount Green is a 220-suite purpose-built affordable and supportive housing community located at the intersection of Birchmount Road and Lawrence Avenue East. Developed in partnership with community agencies, 93 suites are dedicated to supportive housing through five nonprofit service providers.
Aliyah Mohamed is the Chief Capital Officer at KingSett Capital. Aliyah joined KingSett in 2022 and oversees equity and debt capital strategy and formation, as well as marketing and communications. Aliyah also sits on KingSett’s Management Committee, which is responsible for the ongoing implementation of the firm’s business strategy.
Prior to joining KingSett, Aliyah spent 17 years in investment banking at TD Securities, gaining valuable experience with the Mergers and Acquisitions group before moving into the Real Estate Investment Banking group in 2014, where she held progressively more senior roles up to Managing Director, Real Estate, advising clients on M&A, divestitures, initial public offerings and equity and debt, public and private offerings. During Aliyah’s time at TD Securities, she advised on over $20 billion in deals.
Aliyah holds a Master of Business Administration with distinction from Ivey Business School at Western University and a Bachelor of Science in Neuroscience from Dalhousie University in Nova Scotia. Aliyah was recognized as a Rising Star in 2018 and Champion of Change in 2020 through the VersaFi (formerly Women in Capital Markets) Leadership Awards, established to celebrate exemplary individuals across Canada’s financial sector.
Jeff Thomas is the Group Head, Development at KingSett Capital. Jeff joined KingSett in 2018 and is responsible for the vision and execution of the firm’s development business, in addition to acting as Fund Manager for KingSett Affordable Housing LP and Residential Development LP. Jeff has been a member of the firm’s Management Committee since 2025.
Prior to joining KingSett, Jeff was the Managing Partner at Ashlar Urban, a commercial real estate brokerage firm that sold to Cushman & Wakefield in 2017. In his 15-year career as a broker, Jeff was active in office leasing, investment sales and infill land development in downtown Toronto.
Jeff holds a Bachelor of Arts in Public Administration and Public Policy from University of Western Ontario and an Honours Business Administration degree from Ivey Business School. He currently serves as Director on the board for Jona Capital, is a member of the Young Presidents’ Organization and is actively involved with several charitable organizations.
Matthew Johnson is a Managing Director, Investments at KingSett Capital. Matthew joined KingSett in 2010 and is responsible for sourcing, structuring and negotiating the acquisition and disposition of real estate opportunities across Canada.
Prior to joining KingSett, Matthew spent six years with Summit REIT and ING Real Estate Canada as Director of Investments, primarily responsible for acquisitions and dispositions. Previously, he spent six years building and developing residential properties in the Waterloo Region. Matthew has extensive experience in the industrial, retail and residential real estate markets with sourcing new opportunities, negotiating agreements and conducting due diligence. Additionally, he is experienced in both greenfield and infill development of industrial and residential projects.
Matthew holds a Bachelor of Commerce degree from DeGroote School of Business at McMaster University and a Master of Arts in Urban Planning from University of Waterloo.