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Toronto's new plan to build affordable housing needs a massive investment of taxpayer dollars. Mark McAllister reports
Toronto City Council overwhelmingly approved an ambitious affordable housing plan with a price tag it can’t currently afford.
Mayor Olivia Chow said she wants to see 65,000 rental homes built over the next seven years at a cost of $36 billion – money that the city doesn’t have in its budget. That money, and how to get it, was a point of contention during the debate in council chambers.
Funding has already been secured to deliver 4,455 homes with an estimated cost to deliver the remaining 60,545 homes pegged at between $28.6 billion and $31.5 billion over the next seven years. Currently, the estimated amount of funding needed from each order of government is between $500 million and $800 million per year, in addition to repayable financing.
“The ball is in the federal government’s court and that ball has been there for a while,” said Chow. “We are hoping to see action. We are hoping to see the funds that are needed to build housing now.”
Council voted 24-1 in favour of building 65,000 rent-controlled units by 2030. Coun. Stephen Holyday was the only dissenting vote.
A number of different methods of getting those homes built was also put forth for discussion. Partnerships with not-for-profit and co-op organizations would be involved with the big question being would the city become a builder on public land, cutting out the developers.
A city staff report considered by the executive committee last week said the city should be the property developer on at least five sites around the downtown core.
“We don’t have that expertise in this building. We don’t have that expertise in this organization. And that’s why it’s always been important for us to partner with market builders who have that strength who have that connections with the trades to make sure that these projects move forward,” argued Coun. Brad Bradford.
Bradford’s motion which would have seen the city excluded as construction manager or general contractor on housing projects was voted down 16-9.
“We can’t be risk averse when it comes to housing. There are so many people that need affordable housing in this city and we heard it all through the election for mayor. And now our mayor has stepped up and said, ‘Here’s how we’re planning to do that,'” countered Coun. Paula Fletcher.
As part of Wednesday’s motion city staff will explore a City-led development model at five housing-ready sites under a public builder model where the City leads all aspects of the delivery of these sites.
Some changes have been made inside City Hall to streamline the approvals process and cut red tape. But none of that matters if the means to start building isn’t in place.
“I am very impatient but hopeful. Still waiting. It’s not me as a mayor waiting, it’s not just the councillors that are waiting. It’s all those people that are right now in shelters. They are waiting for affordable housing,” said Chow.
Also, city council signed a letter and passed a motion requesting that the federal government open up the armouries for the city to use as shelter spaces.
“We turn away 300 people per night, many of them, unfortunately, are on the street. So we must – we have to – ask the federal and provincial governments to step up,” said Chow. “To provide the funding and all the support that is needed to take these refugees off the street in the freezing cold.”
Council also voted to look at using City-owned sites for permanent or temporary homes, modular and micro-shelter housing options. City staff are expected to report back by April 2024.
Staff will also issue a report in the second quarter of 2024 on the possibility of acquiring school board properties that have been declared surplus for possible shelter use.
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