The City of Toronto partners with housing providers to create new affordable homes in purpose-built rental developments. These partnerships provide residents with better access to affordable housing, by ensuring that a portion of new homes in purpose-built rental developments are offered at or below Average Market Rent (AMR). The AMR is published yearly by the Canada Mortgage and Housing Corporation (CMHC) in the Rental Market Report.
To match prospective tenants with affordable homes, the housing provider launches an expression of interest (EOI) period, during which time interested potential tenants can submit their EOI. When this period closes, the list of names is randomized. Households are then invited by the housing provider to apply in order of the randomized list.
Depending on the number of available homes, this process may take between 60-90 days from the close of the EOI phase. After successful applicants from the top of the randomized list have accepted homes, the remaining households will comprise the waitlist for homes upon turnover.
Housing providers must abide by the Residential Tenancies Act for applicant screening and are expected to work with successful applicants to allow them to provide adequate notice to their current landlords.
The current random selection process for allocating affordable housing units is an interim approach used by both private and non-profit housing providers. The City is currently developing a Centralized Access for Affordable Rental Housing, as directed by Council in July 2022.
The City is actively working to create more affordable housing. This work is guided by the HousingTO 2020-2030 Action Plan which will help create a range of housing opportunities. To help achieve this, the City aims to approve 40,000 new affordable rental homes, including 18,000 deeply affordable homes with supports, as well as 4,000 affordable ownership homes by 2030.
Address: 685 Queen St. E.
Estimated Occupancy: January 2024
Total rental homes for Expression of Interest (EOI): 26
EOI Deadline: September 25, 2023, 4 p.m.
|Unit Type||Estimated Initial Housing Charge (Rent)*|
*Inclusive of utilities.
For information or to complete an EOI, go to Riverdale Co-op.
Type (don’t copy and paste) your email into the box below, check the box next to the e-update description and then click “Subscribe”. You will receive an email with instructions to confirm your request.