Housing Now is an initiative to activate 11 City-owned sites for the development of affordable housing within mixed-income, mixed-use, transit-oriented communities.
City Council launched the first phase of Housing Now in 2019. This phase is expected to deliver over 10,000 new residential homes, including approximately 3,700 affordable rental homes.
Housing Now is one component within the City of Toronto’s emerging HousingTO 2020-2030 Action Plan to address the full spectrum of housing issues in Toronto.
For more information, visit CreateTO’s Housing Now web page.
The Housing Now Initiative represents a new city-building approach to the disposition of City-owned lands. The Initiative will stimulate the creation of complete communities with a range of new housing where residents can afford quality housing near transit.
Over the last decade, the cost of housing in Toronto and residents’ housing choices have become increasingly restricted. The cost of both rental and ownership housing has increased significantly, while incomes have not kept pace.
The first phase of Housing Now is expected to deliver over 10,000 new residential units, including market ownership units, market rental units and approximately 3,700 new affordable rental homes. The affordable units created through Housing Now will, on average, rent for 80% of Toronto’s average market rent. These homes will be affordable for households earning between $21,000 and $52,000 per year.
City Council approved a $1-million Non-profit Housing Capacity Fund to support the participation of non-profit organizations in the Housing Now Initiative and to encourage their involvement in the market offering process for the 11 sites, including the opportunity for long-term operation of the affordable rental units.
Additionally in the first phase of the Housing Now Initiative, four sites will be owned and operated by the non-profit and/or co-operative housing sectors.
As part of the first phase of the Housing Now Initiative, City Council has dedicated 11 City-owned sites for the development of affordable housing within mixed-income, mixed-use, transit-oriented communities.
|777 Victoria Park Ave.||20|
|50 Wilson Heights Blvd.||6|
|3741 Bloor St. West and part 925 Kipling Ave.||3|
|3326 Bloor St. West and 1226 Islington Ave.||3|
|805 Don Mills Rd.||16|
|770 Don Mills Rd.||16|
|140 Merton St.*||12|
|705 Warden Ave.||20|
|1250 Eglinton Ave. West||8|
|251 Esther Shiner Blvd.*||17|
|3933 Keele St.*||6|
*Surplus process pending or in progress
The first four sites to be made available for market redevelopment will be 777 Victoria Park Avenue, 50 Wilson Heights Boulevard, 140 Merton Street and 3741 Bloor Street West.
Construction on some of the sites is expected to begin in 2020 with completion targeted for 2022-24.
For more information regarding upcoming public meetings please visit CreateTO’s Events web page.
Housing Now aims to create homes affordable for a diverse range of incomes including deeply affordable homes by setting rents between 40% to 80% of the City’s average market rents. These homes are affordable to households with an annual income of $21,000 to $52,000.