Item - 2025.PH22.9
Tracking Status
- City Council adopted this item on June 25 and 26, 2025 without amendments.
- This item was considered by the Planning and Housing Committee on June 12, 2025 and adopted without amendment. It will be considered by City Council on June 25 and 26, 2025.
PH22.9 - Advancing Housing Sites: Supporting Housing Construction on Public Land at 267-275 Merton Street, and 610 Bay Street and 130 Elizabeth Street
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- 11 - University - Rosedale, 12 - Toronto - St. Paul's
City Council Decision
City Council on June 25 and 26, 2025, adopted the following:
1. City Council adopt the confidential instruction to staff in Confidential Attachment 1 to the report (June 9, 2025) from the Deputy City Manager, Development and Growth Services and the Deputy City Manager, Corporate Services, for the site at 267-275 Merton Street.
2. City Council adopt the confidential instruction to staff in Confidential Attachment 1 to the report (June 9, 2025) from the Deputy City Manager, Development and Growth Services and the Deputy City Manager, Corporate Services, for the site at 610 Bay Street and 130 Elizabeth Street.
3. City Council request the Government of Canada and the Canada Mortgage and Housing Corporation to expedite review and approval of construction funding and financing applications for the sites at 267-275 Merton Street and 610 Bay Street and 130 Elizabeth Street to facilitate the realization of purpose-built rental and affordable rental homes.
4. City Council direct that Confidential Attachment 1 to the report (June 9, 2025) from the Deputy City Manager, Development and Growth Services and the Deputy City Manager, Corporate Services, remain confidential in its entirety as it outlines a position, plan, procedure, criteria or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City; and contains financial information, supplied in confidence to the City of Toronto and CreateTO, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.
Confidential Attachment 1 to the report (June 9, 2025) from the Deputy City Manager, Development and Growth Services and the Deputy City Manager, Corporate Services remains confidential in its entirety in accordance with the provisions of the City of Toronto Act, 2006, as it pertains to a position, plan, procedure, criteria or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City; and contains financial information, supplied in confidence to the City of Toronto and CreateTO, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.
Confidential Attachment - relates 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.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2025/ph/bgrd/backgroundfile-256217.pdf
Confidential Attachment 1- 267-275 Merton Street, and 610 Bay Street and 130 Elizabeth Street - Business Case Summary
Communications (Committee)
(June 12, 2025) E-mail from Natasha Mistry (PH.New)
Communications (City Council)
https://www.toronto.ca/legdocs/mmis/2025/cc/comm/communicationfile-193538.pdf
Motions (City Council)
9a - Advancing Housing Sites
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2025/ph/bgrd/backgroundfile-255843.pdf
PH22.9 - Advancing Housing Sites: Supporting Housing Construction on Public Land at 267-275 Merton Street, and 610 Bay Street and 130 Elizabeth Street
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- 11 - University - Rosedale, 12 - Toronto - St. Paul's
Confidential Attachment - relates 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.
Committee Recommendations
The Planning and Housing Committee recommends that:
1. City Council adopt the instruction to staff in Confidential Attachment 1 to the report (June 9, 2025) from the Deputy City Manager, Development and Growth Services and the Deputy City Manager, Corporate Services, for the site at 267-275 Merton Street.
2. City Council adopt the instruction to staff in Confidential Attachment 1 to the report (June 9, 2025) from the Deputy City Manager, Development and Growth Services and the Deputy City Manager, Corporate Services, for the site at 610 Bay Street and 130 Elizabeth Street.
3. City Council request the Government of Canada and Canada Mortgage and Housing Corporation to expedite review and approval of construction funding and financing applications for the sites at 267-275 Merton Street and 610 Bay Street and 130 Elizabeth Street, to facilitate the realization of purpose-built rental and affordable rental homes.
4. City Council direct that Confidential Attachment 1 to the report (June 9, 2025) from the Deputy City Manager, Development and Growth Services and the Deputy City Manager, Corporate Services, remain confidential in its entirety as it: outlines a position, plan, procedure, criteria or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City; and contains financial information, supplied in confidence to the City of Toronto and CreateTO, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.
Origin
Summary
The projects at 267-275 Merton St., and 610 Bay St. and 130 Elizabeth St. are signature housing projects that leverage City-owned lands and will deliver over 1,350 new rental homes including at least 369 affordable rental homes.
Market conditions have changed since Council approval of deal terms for these two sites in 2024, most notably a reduction in market rental rates, and an increase in project costs, impacting the financial viability of the projects.
In order to maintain the viability of these projects in the face of shifting market conditions, this report makes a number of recommendations to City Council to help 'unstick' these housing projects, to start construction on a significant amount of new purpose-built and affordable rental homes in 2025.
Background Information
https://www.toronto.ca/legdocs/mmis/2025/ph/bgrd/backgroundfile-256217.pdf
Confidential Attachment 1- 267-275 Merton Street, and 610 Bay Street and 130 Elizabeth Street - Business Case Summary
Communications
(June 12, 2025) E-mail from Natasha Mistry (PH.New)
Speakers
Motions
9a - Advancing Housing Sites
Committee Recommendations
The Planning and Housing Committee:
1. Received the report (May 30, 2025) from the Deputy City Manager, Development and Growth Services, for information.
Origin
Summary
The Deputy City Manager, Development and Growth Services will be submitting a report to Planning and Housing Committee before its meeting on June 12, 2025, that provides an update on the City's actions to advance development of housing on City-owned land. A supplementary report will be provided in time for the Planning and Housing Committee meeting on June 12, 2025.
Background Information
https://www.toronto.ca/legdocs/mmis/2025/ph/bgrd/backgroundfile-255843.pdf