I can talk about Toronto most specifically because I've had a view to city council's work on it and the 540 units. They were part of the consultation process and had started to line up assets they were renting that they had options to purchase on. When rapid housing came in, they simply bought those units. The rent in those units went from almost $3,000 a month down to about $1,500 a month instead.
That has allowed the city to roll those savings into a further extension of programs and provision of service on site. It's been very much focused on those populations made vulnerable by COVID who have been subjected to decades of neglect around the absence of a supportive housing program. It set us up for much more success in the coming weeks and months.
The deployment of those dollars was virtually immediate. Within weeks of signing those agreements, cities were announcing the acquisition of assets and moving people in.
On a modular housing basis, it wasn't tied to rapid housing, but in the city of Toronto there was a six-month turnaround on two 60-unit projects from flat ground—from acquiring the property—to actually moving people in. It was done in less than six months.
That was done under the co-investment fund by coincidence, but it's the modular housing piece of this that is also showing great promise. It is also a very good economic development tool to set up these factories in remote parts of the country to develop the rural housing program that Mr. Vis talked about.
There have been some really good findings from this that have been drawn from the quickness, but also the nimbleness of our municipal partners.