Source from: CBC NEWS
City says the development will deliver approximately 918 homes
The development at 2444 Eglinton Ave. E. in Scarborough will provide approximately 918 homes, including 612 rent-geared-to-income affordable homes, the city says. (Google Maps)
A new housing development that the city says is one of the largest affordable housing projects in the last 25 years is a step closer to becoming a reality.
The development at 2444 Eglinton Ave. E. in Scarborough will provide approximately 918 homes, including 612 rent-geared-to-income affordable homes, the city says.
The city and CreateTO announced Civic Developments, Windmill Developments and Co-operative Housing Federation of Toronto as the development partners for the project, which is expected to be the province's largest co-operative development.
Abi Bond, executive director of the housing secretariat for the city of Toronto, says the city hasn't seen much new co-op housing in the last couple of decades.
"Using city land to inspire partnerships like this is a really great way forward for us," he said.
Bond says more affordable housing was something residents in the city have overwhelmingly asked for in consultations.
"This is an important piece of city land adjacent to transit, with really good links for future residents to move around the city. This is exactly where we want to see more affordable housing," Bond said.
The project is part of the Housing Now Initiative, which Toronto city council approved in January 2019 to use city-owned lands to develop more affordable rental housing.
"Our volunteers are happy to see the city of Toronto proceeding with this dense, transit-oriented community redevelopment of a piece of prime government-owned land at Kennedy Station," said Mark Richardson, volunteer technical lead with the organization.
The group is hoping the project will be a catalyst for other redevelopments in Scarborough.
Details of the development
The city says the housing project will consist of two co-op buildings and a market ownership building. The homes will be a mix of studios, one-bedroom, two-bedroom and three-bedroom apartments. The site will also offer 3,580 square feet of community space as well as 12,770 square feet of retail space. The site is adjacent to the Kennedy Mobility Hub and connects four major transportation lines.
In a news release, the city says the not-for-profit housing co-operative and the co-op buildings will be owned and operated by the people who live in them. Each of the buildings will be governed by a board of directors made up of residents who will be elected by the members of the co-op.
Colleen Bailey, director at More Neighbours Toronto — a network of pro-housing voices — says it's good to see another step in the project moving forward.
Civic Developments, Windmill Developments and Co-operative Housing Federation of Toronto were selected as the development partners through a market offering process led by CreateTO on behalf of the City in 2021. (Civic Developments/Windmill Development Group)
"We're happy to see transit-oriented development and a lot of people are interested in co-op housing," Bailey said, adding the organization wants to see more co-op housing developments pop up in the future as the city deals with a housing crisis.
Bailey says More Neighbours Toronto has seen other developments face hold-ups due to mismanagement and vocal opposition, and that the hope is that this project sticks to its timeline and housing delivery plans.
"These can be things that hold the process up overall and make housing more expensive, so hopefully the city is keeping those things in mind when looking at the timelines."
The city says rent for the rent-geared-to-income and affordable co-op homes will be set between 40 and 100 per cent of average market rent, reported annually by the Canada Mortgage and Housing Corporation. At least 33 per cent of the affordable homes and 15 per cent of the market rental homes in the project will be accessible, it adds.
The development team will help obtain a zoning bylaw amendment and other planning approvals needed for the final development concept, according to the city.
Dan Van Leeuwen, a partner for the GTA for Windmill Developments, said the site is a great use of undervalued land.
"It was seen as a difficult site...so I think being able to change what was a parking in a difficult spot into very high quality housing is one of the better parts of this," Van Leeuwen said, adding the location also offers residents great access to transit and shopping.
Van Leeuwen says the project also shows the benefit of a collaboration between private and public sectors.
"When you put it together and share the risk and outcome, I think this is a great demonstration of how that could be done collectively and if that model can be amplified in different forms moving forward, I think we'll have great success in Toronto, the GTA and across the country."
The city anticipates that construction will start this year.
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