Friends,
Our city is facing two intertwined housing crises: lack of affordable housing options for middle-income residents and a severe shortage of deeply affordable and supportive homes for low-income people and those experiencing homelessness.
The HousingTO 2020-2030 Action Plan and the Housing Action Plan (2022-2026) provide a strategic framework to address these challenges.
Today, the City of Toronto released its 2023-2024 Annual Housing Update Report outlining the significant progress we have made on the HousingTO Plan and Housing Action Plan, including:
- Exceeding the provincial housing supply target by 51 per cent, with 31,656 new housing starts including 1,562 new affordable rental homes.
- Securing 368 permanent affordable homes through the Multi-Unit Residential Acquisition Program (MURA) program, which began in 2022.
- Preventing evictions for more than 2,200 low-income households needing support for rent arrears or rental deposits through the Toronto Rent Bank and Eviction Prevention in Community (EPIC) programs.
In 2023, the City increased its 10-year HousingTO Plan targets and approved more than 23,000 new rent-controlled, affordable rental and supportive homes towards this target. However, the rate of affordable housing starts and completions are not keeping pace with the rate of approvals.
The progress report highlights the need for additional and significant funding from other orders of government to help deliver the City’s housing targets successfully.
Specifically, the City continues to request federal and provincial funding for the Rapid Housing Initiative (RHI), Canada-Ontario Housing Benefit (COHB) and MURA Program to create new affordable rental and supportive homes, maintain the existing affordable rental stock and give more people access to affordable housing.
Our efforts to meet the increased housing targets and implement stronger policies are only effective when they are backed by adequate funding. The people of Toronto are in need of affordable homes. Indeed people across this country, are counting on all orders of government to work together to address these challenges, in collaboration with community partners.
I look forward to discussing the report’s recommendations at next week’s Planning and Housing Committee on September 26, 2024, and will continue to support policies that advance the right to adequate housing for all residents.
Sincerely,
In This Week's Newsletter
City-Wide
- Seniors for Climate Event - Oct 1
- Growing Space for Trees: Protecting & Enhancing the Tree Canopy While Supporting Infill Housing
Ward 4
- Coyote Information
- Weston Historical Society Fossils to Factories Event, Sept 29
- Dufferin Grove Housing Co-op 50th Anniversary Celebration, Sept 28
- Electric Vehicle Roadshow, Sept 28
Developments
- 2280 Dundas St W – Loblaws Site, Oct 7