Item - 2023.PH5.4
Tracking Status
- This item was considered by the Planning and Housing Committee on July 5, 2023. The Committee received the item for information only. No further action will be taken on this item.
- See also PH4.6
PH5.4 - Affordable Housing in Transit Oriented Communities - Update
- Decision Type:
- ACTION
- Status:
- Received
- Wards:
- All
Committee Decision
The Planning and Housing Committee received the report (May 17, 2023) from the Chief Planner and Executive Director, City Planning, for information.
Origin
Summary
This report responds to a request for information on how affordable housing is being secured at Transit Oriented Communities. A number of these projects have been proposed at several Ontario Line stations. To date zoning has been authorized through Minister’s Zoning Orders (MZOs) at nine TOC locations. Staff continue to negotiate how the City’s interests will be secured from future TOC development partners, notably including the provision of affordable housing.
Options under review by the Province include leveraging Inclusionary Zoning, purchasing units through a funding contribution from the Province’s TOC proceeds, the potential participation of the City through its Open Door program, and a future buy-back option. In addition, each TOC location is being assessed to determine the cost of affordable units and how many units could be secured under ownership and rental scenarios, and under different terms of affordability. Consolidation of affordable units at certain TOC locations is also under consideration.
The Housing Secretariat has been consulted in the preparation of this report.
Background Information
https://www.toronto.ca/legdocs/mmis/2023/ph/bgrd/backgroundfile-237384.pdf
Communications
https://www.toronto.ca/legdocs/mmis/2023/ph/comm/communicationfile-171305.pdf
Speakers
Omo Le, Community Youth Advocate
Motions
That item PH5.4 be received for information.