This report responds to a request from the Affordable Housing Committee at its January 29, 2013 meeting for information on opportunities to create affordable rental and ownership housing over the next five years.

A review has determined that there is a current inventory of proposals to develop 9,198 affordable homes, including 6,024 rental and 3,174 ownership homes.

The review of potential new affordable rental and ownership developments was undertaken within the context of the goal to create 1,000 new rental and 200 new ownership affordable homes annually as set out in the City's Housing Opportunities Toronto: An Affordable Housing Action Plan 2010-2020.

In recognition of the Housing Opportunities Toronto priority to support program-ready affordable housing on publicly-owned sites, staff consulted with Toronto Community Housing, Build Toronto, Waterfront Toronto and Shelter, Support and Housing Administration in the preparation of this report.

In addition, staff reviewed the development status of proposals which had been submitted by private and non-profit sectors for federal/provincial economic stimulus funding in 2009 but as yet had not started construction.

The review also covered the results of a recent Request for Proposals for affordable home ownership funding under the City's Home Ownership Assistance Program (HOAP). 

While the review did not canvas private sector or non-profit providers for new proposals, it nonetheless found that there is significant, ready-to-go capacity to develop new affordable rental and ownership homes. 

Recognizing the importance of federal/provincial investments in "unlocking" new affordable rental and ownership housing opportunities, the report recommends that Council request the provincial government to expedite negotiations for a new funding agreement with the federal government under the recently renewed Investment in Affordable Housing Program.

This report also requests the Director, Affordable Housing Office, to continue pursuing innovative partnerships with Toronto Community Housing, Build Toronto, Waterfront Toronto and non-profit and private sector affordable housing organizations to assist in achieving the City's affordable housing targets.