Item - 2025.PH18.8

The Planning and Housing Committee recommends that:

1. City Council request Canada Mortgage Housing Corporation (CMHC) to expedite the review and approval of the Affordable Housing Funding (AHF) application made by the Toronto Community Housing Corporation (TCHC) for funding and financing for Building 4A of the Regent Park revitalization.

2. City Council request the Federal and Provincial governments work with the Executive Director, Housing Secretariat, Deputy City Manager, Development and Growth Services, and the Toronto Community Housing Corporation (TCHC) to allocate funding and financing required to deliver remaining phases of the Regent Park revitalization including up to 2,805 new rental homes in a mixed-income, complete community, and optimize the delivery of affordable housing outcomes as a result of this work.

3. City Council request the Executive Director, Development Review, and any other City divisions as appropriate, to prioritize the review of the development applications relating to Building 4A of the Regent Park revitalization.

Toronto Community Housing Corporation (TCHC) has over two decades of experience in the successful revitalization of its communities, in partnership with residents. TCHC revitalization projects play a central role within the delivery of the HousingTO 2020-2030 Action Plan, in helping meet goals for maintaining social housing and adding to new affordable rental housing supply. This includes a wholistic approach to pre-development, design, construction, and community engagement and relocation.  TCHC’s 10-year development plan, in partnership with the City, aims to deliver over 10,000 new homes in our city by 2035. Regent Park is a critical site within this development plan.

Since 2005, TCHC has been implementing the revitalization of Regent Park; a five-phased undertaking to transform the 69-acre community into a mixed-use, mixed-income neighbourhood. To date, 1,450 Rent-Geared-to-Income (“RGI”) Replacement homes, 427 net-new affordable rental homes, and 3,741 new market homes have been built during Phases 1-3.  

On July 19, 2023, City Council approved a Zoning By-law Amendment application for

Phases 4 and 5 of the Regent Park revitalization to permit the development of 12

buildings with heights ranging from 6 to 39 storeys. Phases 4 and 5 plan to deliver 633 RGI Replacement homes (completing the full replacement of the original 2,083 Regent Park RGI homes) along with 2,168 new market homes. 637 net-new affordable rental homes are also planned, provided funding is secured to support the construction and subsidization of rents for these homes. As part of this approval, Council directed that prior to the issuance of a first building permit for each building in Phases 4 and 5, TCHC must report back to Council, through the Housing Secretariat, with an update on progress towards achieving the net-new affordable rental housing targets and towards securing funding from the Federal and Provincial governments to support the construction of these homes.

TCHC submitted an application to Canada Mortgage Housing Corporation (CMHC) Affordable Housing Fund (AHF) in November 2024 for Building 4A and continues to work alongside City Staff (initially with the Housing Secretariat and ultimately with the Housing Development Office) and CMHC’s underwriting team to obtain approval. An approved application would provide the funding and financing necessary for the construction of Building 4A, which will deliver 136 RGI replacement homes and 136 net-new affordable rental homes (272 total homes).

TCHC submitted its site plan application for the first building in Phase 4, “Building 4A”, in December 2024, with the aim of starting construction in the spring of 2025. This report provides an update in accordance with Council direction and ahead of submission of a building permit application for Building 4A.

The partnership between the City and TCHC to replace RGI homes and deliver more affordable rental supply will be further supported by the creation of a new Housing Development Office as part of recent Council approved housing mandate alignment.