Apartment Building

Ontario’s investment in affordable rental housing

Wednesday, May 17, 2017

Addressing Toronto’s affordable housing crisis, Minister of Housing Chris Ballard, joined Judy Sgro, Member of Parliament for Humber River-Black Creek and Councillor Ana Bailão, Chair of the City of Toronto’s Affordable Housing Committee, at Casa-Emery Village in Toronto to highlight a $58.8 million investment from the province and federal government in affordable rental housing in Toronto.

Casa-Emery Village received funding from the Government of Canada and Government of Ontario through the Investment in Affordable Housing (IAH) agreement, delivering 348 affordable housing units for those in need, including seniors and recent immigrants.

“Ontario continues to be a strong partner to the City of Toronto, delivering efficient, people-centred housing programs for residents so they can continue to put down roots in the neighbourhoods they love,” said Ballard. “Working together, we can ensure that every family has an affordable place to live in the city they call home.”

An additional 110 affordable rental housing units are being created at other developments across the city as part of this investment.

Over the next three years, the province will invest more than $600 million in housing and homelessness programs across the city, including:
•  $340 million over the next three years for homelessness prevention to help Toronto’s most vulnerable residents
•  $130 million over the next three years to build and expand affordable housing options for people in Toronto
•  $130 million over the next four years to make repairs and retrofits to Toronto’s aging social housing.

As part of Ontario’s Fair Housing Plan, the government is also unlocking provincial land worth up to $100 million to build new affordable rental units in the city, with pilots at 27 Grosvenor Street and 26 Grenville Street in Toronto.

Investment quick facts:

• Casa-Emery Village received nearly $36.7 million from the province and the federal government.
• Since 2003, Ontario has invested $5 billion in affordable housing across the province, including nearly $1.4 billion in the City of Toronto.
• Other projects in Toronto receiving investment through the IAH program include:
o Fifty units of affordable housing at 230 Sackville St. as part of the Regent Park Revitalization Plan, which received more than $14 million.
o Forty units of affordable housing at 180 Sackville St., also part of the Regent Park Revitalization Plan, which received $4.8 million.
o Twelve units of affordable housing for off-reserve Indigenous residents at 22-26 Norwood Road, which received $2.1 million.
o Four units of affordable housing at 1330 Wilson Ave., which received $597,750.
o Four units of affordable housing at 3207 Kingston Rd., which received $547,200.

Over the next three years, Ontario will invest $2 billion in affordable and sustainable housing across the province, with more than $600 million going towards the City of Toronto.

Leave a Reply

Your email address will not be published. Required fields are marked *