As part of its Fair Housing Plan, Ontario announced it is unlocking surplus provincial land to create more than 2,000 new rental housing units in Toronto. Peter Milczyn, Minister of Housing, was joined by Mayor John Tory in Toronto’s West Don Lands today where the official announcement was made.
The sites include:
- A lot in the West Don Lands, south of Front Street, between Trinity and Cherry Streets
- A lot in the West Don Lands, east of Cherry Street and north of the rail line
- 27 Grosvenor Street and 26 Grenville Street, which is currently a multi-level parking structure and the two-story former Provincial Coroner’s Office
“Our communities are at their strongest when they make room for everyone,” said Peter Milczyn, Minister of Housing and Minister Responsible for the Poverty Reduction Strategy. “By freeing up underused land to build a mix of market and affordable rental housing, more people in Ontario will be able to find an affordable home in neighbourhoods they love.”
The province is leveraging the value of this land to develop new rental and affordable housing units for individuals and families in Toronto. This will pave the way for strong neighbourhoods that will feature both market and affordable rental housing, including much-needed family-sized units, with up to 30 per cent of the units earmarked for affordable housing.
This pilot program is one of 16 comprehensive measures under Ontario’s Fair Housing Plan that, according to the press release, aims to bring stability to the real estate market, protect the investments of home owners, and ensure that more people are able to find a home that fits their budget.
“We need to do everything we can to build more affordable housing in Toronto and we need to do it much faster,” said John Tory, Mayor of Toronto. “Today’s announcement is about the Government of Ontario and City of Toronto working together to speed up the delivery of affordable housing by releasing surplus public land. The City will do everything we can to encourage development of affordable rental homes by providing incentives to developers such as waiving fees and charges. By working together, we can make housing affordable for the residents of Toronto.”