2024.PH14.6

Background

“The 777 Victoria Park site will include a range of rental homes, retail and community space at grade and a new purpose-built childcare facility. Importantly the land will remain in public ownership in perpetuity…[This includes] 256 new affordable rental homes (rents at average of 80% City of Toronto’s average market rent) [and] 449 new rent-controlled market homes (with annual rent increases limited at Provincial guideline+2%).” Toronto needs more affordable housing as the impacts of the climate crisis worsen.

Source: City of Toronto

Item Description

This item “deals with a position, plan, procedure, criteria or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City.”

Source: City of Toronto

Proposed by

Planning and Housing Committee