2019.PH7.4

Background

“Toronto Community Housing Corporation undertakes revitalization projects in communities across Toronto. Revitalization projects aim to address issues relating to long-term maintenance costs associated with aging housing stock, generate funding to renovate and replace social housing stock, and provide opportunities for community development and investment through improved design, additional facilities and services, and community economic development initiatives.” The Service Manager (i.e., sole shareholder of the corporation involved) sees an opportunity for the creation of a “transparent framework for approvals and consents to better align revitalization projects with the objectives of the upcoming Toronto Housing Strategy 2020 – 2030.”

Source: City of Toronto

Item Description

Opportunity of the revitalization and redevelopment of 120 community housing units at 1555-1575 Queen Street East in Don Summerville. This includes: “32 residential units (17 rent-geared-to-income and 15 affordable rental units)” where $6,000,000 in funding was approved from “the Capital Revolving Reserve Fund for Affordable Housing (XR-1058) for the acquisition of 32 residential units, to be leased by the City to a non-profit housing provider which leasehold interest will be purchased by repaying the $6,000,000.”

Source: City of Toronto

Proposed by

Planning and Housing Committee