Item - 2025.MM35.39

City Council on December 16 and 17, 2025, adopted the following:

1. City Council authorize the Deputy City Manager, Corporate Services and the Chief Financial Officer and Treasurer, in consultation with the Executive Director, Housing Development Office and the Chief Executive Officer, CreateTO, to amend the approved business terms for the Housing Now development at 2444 Eglinton Avenue East  (the “Development”) by removing the ‘market lands’ portion of the development, described as Part 1 on Plan 66R-34709, and CW Kennedy LP as a development partner.

2. City Council authorize the Deputy City Manager, Corporate Services and the Chief Financial Officer and Treasurer, in consultation with the Executive Director, Housing Development Office and the Chief Executive Officer, CreateTO, to approve any lease, transfer and other property transactions for 2444 Eglinton Avenue East in accordance with Item CC21.3, as amended or revised by the updated approved business terms as described in Part 1 above.

3. City Council authorize the Executive Director, Housing Development Office, to amend the existing municipal housing facility agreement (the “Contribution Agreement”) with Kennedy Green Non-Profit Cooperative Inc. to permit the issuance of a provisional funding letter in an amount set out in Confidential Attachment 1 if funding is required with the City using existing approved capital budget funding to support the required funding, with the expectation that any required City funding would not be flowed until 2028.

4. City Council direct the Executive Director, Housing Development Office, in consultation with the Executive Director, Corporate Real Estate Management and the Chief Executive Officer, CreateTO, to evaluate the remaining parcel of land at 2444 Eglinton Avenue East, which had been intended to be sold under the Housing Now program, to determine the best use of the lands to support housing development in Toronto, and to report back by the second quarter of 2026.

5. City Council direct that Confidential Attachment 1 to Member Motion MM35.39 remain confidential at this time as it relates to a proposed or pending disposition of property by the City and a position, plan, procedure, criteria or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the Board of Directors of CreateTO and the City, and contains financial information, supplied in confidence to the City and CreateTO, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere with the contractual or other negotiations.

6. City Council authorize the public release of Confidential Attachment 1 to Member Motion MM35.39 at the discretion of the Deputy City Manager, Development and Growth Services.

Confidential Attachment 1 to Member Motion MM35.39 remains confidential at this time in accordance with the provisions of the City of Toronto Act, 2006, as it relates to a proposed or pending disposition of property by the City and a position, plan, procedure, criteria or instruction to be applied to negotiations carried on or to be carried on by or on behalf of the Board of Directors of CreateTO and the City, and contains financial information, supplied in confidence to the City and CreateTO, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere with the contractual or other negotiations. Confidential Attachment 1 to Member Motion MM35.39 will be made public at the discretion of the Deputy City Manager, Development and Growth Services.