Item - 2023.RA6.1

The Board of Directors of CreateTO received the report (July 10, 2023) from the Chief Executive Officer, CreateTO for information.

Nima Kia, Director, Development and Housing Now, CreateTO, gave a presentation to the Board of Directors of CreateTO.

On January 30, 2019, City Council approved a signature affordable housing program, the "Housing Now Initiative," to leverage City-owned land for the purpose of creating new mixed-use, mixed-income communities near transit. Through the Initiative, 11 properties were initially identified for development, with the potential to create a total of 10,000 new residential units.

On May 28, 2020, Council approved the addition of six more sites to the Housing Now Initiative with the potential to create 1,455 to 1,700 additional residential units.

On November 9th and 10th, 2021 City Council endorsed the addition of four Phase Three sites to the Initiative. These sites are estimated to add between 1,150 and 1,400 net new homes. A further six Pipeline Sites were also endorsed by Council for preliminary due diligence.

On May 10, 2023, City Council endorsed the addition of Parkdale Hub as a Phase Three site of the Initiative and approved the renegotiated business terms for three priority sites advancing to construction in 2023.

The Housing Now Initiative is coordinated through a Steering Committee, representing the project partners comprising senior staff from the Housing Secretariat, City Planning and CreateTO. The purpose of this report is to provide the CreateTO Board of Directors with a broad status update on the progress made to-date on activating the 22 properties and future pipeline sites.