Feds allocate $105M to Toronto housing projects
The federal government has committed more than $105 million in funding to the construction of up to 260 new homes in Toronto through the Rapid Housing Initiative (RHI).
Housing Minister Ahmed Hussen was alongside Toronto Mayor John Tory and other city and local officials to announce the funding on July 8.
The money will seed seven projects, located at:
- 150 Eighth Street – $31 million
- 525 Markham Road – $26.6 million
- 60 Bowden Street – $19.8 million
- 25 Augusta Avenue – $12.5 million
- 136 Kingston Road – $9.5 million
- 1120 Ossington Avenue – $4.5 million
- 1080 Queen Street East – $1.6 million
The prices of 86 of the built units will be set at affordable rates.
"I am committed to getting more housing built,” Tory said. “These seven projects announced today demonstrate how our governments and community partners are working together to get more housing built as soon as possible. Supporting Indigenous-led housing projects and creating new supportive and affordable homes is an important part of the affordable housing strategy in our HousingTO 2020-2030 Action Plan and I look forward to seeing these projects get up and running."
The RHI is a $2.5-billion program under the National Housing Strategy that is intended to help address the urgent housing needs of vulnerable Canadians, especially in the context of COVID-19, through the rapid construction of over 10,000 units of affordable housing.
The program specifically targets the needs of people who are experiencing, or who are at risk of, homelessness, and other vulnerable people.
Under the terms of the program, units are intended to be constructed within 12 months of funding being provided to applicants.
"Through the Rapid Housing Initiative, our federal government is investing in safe, affordable and supportive housing here in Davenport and across Canada,” said Davenport MP Julie Dzerowicz. “This program helps to reduce chronic homelessness and ensure that more Canadians have a place to call home. There is more work to do, and I remain committed to working with my colleagues and the community to create more affordable and accessible homes in Toronto, improving the quality of life for those who need it most.”