Today, Toronto City Council approved the second phase of Housing Now to get more affordable housing built.
The six new Housing Now sites will create between 1,455 and 1,710 new residential units including between 1,060 and 1,240 purpose-built rentals, of which half (530 to 620) will be affordable rental units. 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 Now was introduced by Mayor Tory in 2018 and leverages City-owned land for the development of affordable housing within mixed-income, mixed-use, transit-oriented communities.
Housing Now 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 two phases of Housing Now, along with the Modular program, Council has now approved 47 per cent of that 10-year target.
Expanding Housing Now will increase and accelerate the creation of affordable housing opportunities for households with diverse income levels. The affordable rental units will be affordable to families earning between $21,000 to $56,000 a year. Access to good quality, safe, affordable housing is an important determinant of health and improves the socio-economic status of individuals, families and communities and supports the environment.
More details on Phase Two of the Housing Now Initiative can be found in the staff report: app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2020.CC21.3
“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. That’s why today, I am proud City Council has approved the next phase of Housing Now. 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.”
– Mayor John Tory
“We know that investments in permanent housing significantly reduces costs to the health care, emergency shelter and justice systems. 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.”
– Deputy Mayor Ana Bailão, (Ward 9 Davenport), Planning and Housing Committee Chair
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