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Staff-recommended “Housing Now” plan is out. Here’s the 11 properties being looked at, and the mix of market/rental/affordable rental units in each. toronto.ca/legdocs/mmis/2… (PDF) 
Over the last five years in Toronto:
- 80,000 new condo units
- 4,500 new purpose-built rental units.
18 times more condo units than rentals.
- 80,000 new condo units
- 4,500 new purpose-built rental units.
18 times more condo units than rentals.
This “Housing Now” plan will create 3,629 affordable rental units on 11 city-owned sites that would otherwise have been sold for condo development. (City defines “affordable” in this case at rent set at 80% of market rates.)
This is just a prequel to a larger housing plan coming later this year, the report says. That report will tell us how the city can reach the target of 40,000 new affordable rental units by 2030.
Housing Now targets will be approximately 40% 1 bedroom, 40% 2 bedroom, 20% 3+ bedroom, with some site-by-site variance.
Some of the residential targets for certain sites seem low. Especially 1250 Eglinton which will be at intersection of two major transit lines. Only 70 units proposed here, just 35 affordable?
