Today, Deputy Mayor Mike Colle (Eglinton-Lawrence), alongside the Honourable Marco Mendicino, Member of Parliament for Eglinton-Lawrence and Bryan Keshen, Chief Executive Officer of Reena, announced new funding for 106 new rent-geared-to-income and supportive homes at 165 Elm Ridge Dr. as part of Phase 3 of the federal Rapid Housing Initiative (RHI).
RHI is a capital funding program that helps create new affordable and supportive rental housing for people experiencing or at risk of homelessness. The new homes on Elm Ridge Drive have been made possible through a partnership between the City of Toronto, the Government of Canada and Reena.
About homes at 165 Elm Ridge Dr.
The supportive homes at 165 Elm Ridge Dr. will be dedicated to people with developmental and physical disabilities including seniors and older adults experiencing cognitive decline or mental health challenges. Future residents will pay no more than 30 per cent of their income or the shelter allowance of their income support benefit on rent.
Reena, an experienced not-for-profit organization, will operate the building and provide 24/7 onsite support services. In addition to a good quality, secure and affordable home, all residents will have access to a range of wraparound support services tailored to their unique needs.
Construction is anticipated to start in December 2023. After completion, the building will include 106 rent-geared-to-income supportive homes consisting of a mix of studios and one-, two-, three- and four-bedroom apartments. The building will also include indoor and outdoor amenity spaces.
Investments that made the project possible
The Canada Mortgage and Housing Corporation delivers RHI under the National Housing Strategy. To date, the City and its Indigenous and not-for-profit partners have received almost $440 million in capital grant funding through the RHI Phases 1 and 2, with more than 1,000 homes completed or underway.
The 165 Elm Ridge Dr. project received more than $43.9 million in capital funding from the federal government through the Phase 3 of the RHI. Through the City’s Open Door Affordable Housing program, the City has also committed $8.1 million in financial incentives such as waivers of development charges and planning and building fees, and annual property tax exemptions for at least 40 years. Reena Foundation is contributing $15 million and Batay Reena is contributing $15 million in equity.
HousingTO 2020-2030 Action Plan
RHI funding supports the implementation of the City’s HousingTO 2020-2030 Action Plan (HousingTO Action Plan) that targets 65,000 new rent-controlled homes across the city over 10 years including 6,500 rent-geared-to-income homes and 18,000 supportive homes with a focus on helping people exit homelessness. All orders of government need even stronger action across the full housing continuum in response to the worsening housing and homelessness crisis. The City’s staff report “Generational Transformation of Toronto’s Housing System to Urgently Build More Affordable Homes” charts a way forward to transform Toronto’s housing system and improve housing outcomes for low- and middle-income Torontonians.
More information is available on the HousingTO 2020-2030 Action Plan.
Information is available on the “Generational Transformation of Toronto’s Housing System to Urgently Build More Affordable Homes” report.
Quotes:
“The affordable supportive housing site at 165 Elm Ridge Dr. is part of the City’s determined response to ensure all Torontonians have appropriate housing. This site will provide a safe, comfortable and inclusive space for people with disabilities. The opportunity to partner with the Government of Canada and Reena on this important project showcases our collective commitment to a more equitable future where everyone has a place to call home. Together, we need to act with more urgency to increase the supply of affordable supportive housing as quickly as possible.”
– Mayor Olivia Chow
“I’m very proud of this ground-breaking initiative for an affordable, supportive housing development here in the heart of Eglinton-Lawrence and I can’t wait to welcome the 106 new residents to our community. I’m looking forward to continuing our work with Reena, our dedicated housing operator and trusted partner. Together, we will ensure that this project will bring a positive change, not only to provide welcoming homes for people with disabilities, but for our whole community and to serve as a model for all of Toronto.”
– Deputy Mayor Mike Colle (Eglinton-Lawrence)
“This Rapid Housing Initiative funding announcement is not just a monetary contribution – it’s a key to unlocking a better future for residents of Toronto. Working with the Government of Canada allows us to rapidly expand our affordable housing supply. This site at 165 Elm Ridge Dr. is a testament to what’s possible when the municipal and federal government and not-for-profit sector partner to make impactful strides towards housing accessibility.”
– Gord Perks (Parkdale-High Park), Chair of the Planning and Housing Committee
“Everyone deserves a safe and affordable place to call home. Through the Rapid Housing Initiative, we are quickly building affordable homes for people who need them the most, right across the country. Thanks to today’s announcement over 100 affordable homes will soon be available for Torontonians. We know there is a lot more to do and we will continue working hard to end this crisis once and for all.”
– The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
“To support our vulnerable communities, we need sustained, consistent funding. We are doing just that through the Rapid Housing Initiative to help Canadians access safe, affordable housing that meets their needs, while also creating jobs for the local economy, here in Toronto. Today’s announcement is another step towards creating more equitable and affordable housing for all.”
– The Honourable Marco Mendicino, Member of Parliament for Eglinton—Lawrence
“Reena is grateful for the support of Deputy Mayor Colle, the City of Toronto, the Canadian Mortgage and Housing Corporation, our generous donors and many others who helped us achieve our goal of providing deeply affordable supportive housing for vulnerable citizens.
The Frankfort Family Reena Residence is Reena’s most ambitious residential project in its 50-year history. The project offers a unique Intentional Community housing model that combines independence, affordability and accessibility with 24/7 resources, creating a life-changing opportunity for vulnerable individuals, including those with developmental disabilities.”
– Bryan Keshen, Chief Executive Officer, Reena
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