Toronto City Council has approved the second phase of Housing Now, an initiative introduced by Mayor Tory in 2018 to leverage City-owned land for the development of affordable housing within mixed-income, mixed-use, transit-oriented communities.
According to the announcement, the six new sites located throughout the GTA will create between 1,455 and 1,710 new residential units including between 1,060 and 1,240 purpose-built rentals, of which half will be classified as affordable. The sites are close to transit, commercial and employment areas and provide opportunities to further develop complete communities, bringing benefits to existing and future residents.
“Housing – and making sure we are building more affordable housing – was a priority before the pandemic and we can’t let our foot off the gas pedal,” said Toronto Mayor John Tory. “That’s why today, I am proud City Council has approved the next phase of [the program]. This is critical for the advancement of our growing and successful city. We know that COVID-19 has had great impacts on Toronto and its economy but we also know that we will recover from this. And when that happens thanks to initiatives such as Housing Now, we will be ready to push ahead on more affordable housing.”
The program is one component of the HousingTO 2020-2030 Action Plan, which calls for the creation of 10,000 affordable homes on City-owned lands. Through the first two phases, along with the Modular program, Council has now approved 47 per cent of that 10-year target.
“We know that investments in permanent housing significantly reduces costs to the health care, emergency shelter and justice systems,” said Deputy Mayor Ana Bailão, (Ward 9 Davenport), Planning and Housing Committee Chair. Council’s approval today, means we are well on our way to meeting the ambitious targets set out in the HousingTO plan — a plan that recognizes Toronto as a place where families and individuals deserve to live in safe, well-maintained and affordable housing.”
More details on Phase Two sites can be found at:app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2020.CC21.3