[Northern Light]

The province out with a presser for helping to support construction here.

Ontario Newsroom

news.ontario.ca

From the above:

I'll admit to some disappointment that this is not rental. If you can get financing for $500,000, you're not likely in acute need.

Its not that is a bad thing, its just a question of relative priority. I'd at least like to see this tied to purchasers able to move out of Rent Geared to Income Housing, if feasible such that it frees up 33 units for those in need.

 

[HousingNowTO]

I attended the media event with Habitat folks, Minister Flack and local Toronto Councillor Bradford this morning -

 

[HousingNowTO]

The province out with a presser for helping to support construction here.

Ontario Newsroom

news.ontario.ca

I'll admit to some disappointment that this is not rental. If you can get financing for $500,000, you're not likely in acute need.

Its not that is a bad thing, its just a question of relative priority. I'd at least like to see this tied to purchasers able to move out of Rent Geared to Income Housing, if feasible such that it frees up 33 units for those in need.

The opportunity for this to be RENTAL at that kind of "missing middle" density / scale and at this complex construction location (eg. Hydro wires / Turning Streetcars, etc) pretty-much DIED back in 2018, when the Coop folks walked away.

Habitat "affordable ownership" using 60th - 80th percentile will be for local Household incomes somewhere between $80-K to $140-K based on the unit size / household size.

(OCTOBER 2024) City Report PDF - https://www.toronto.ca/legdocs/mmis/2024/ph/bgrd/backgroundfile-250928.pdf

 

[HousingNowTO]

This is proposed to replace the plaza at Coxwell and Gerrard:

355 COXWELL AVE
Ward 32 - Tor & E.York District
►View All Properties
Proposal for a 6 storey mixed use building containing 33 residential units, 1 retail unit at the ground level and office units on the 6th level with a gross density of 2.5 times the lot area and 9 surface parking spaces.
Proposed Use --- # of Storeys --- # of Units ---
Applications:
Type Number Date Submitted Status
Rezoning 16 198323 STE 32 OZ Jul 28, 2016 Under Review

Renderings:
View attachment 82941

View attachment 82942



View attachment 82943

For the RECORD, today is 3,356 days since the original Co-op submission went into the City on July 28, 2016.

It is a great example of why it has been usually sooooo hard to build these kinds of small-scale affordable housing projects in the City of Toronto for the last 20+ years.

This COXWELL and GERRARD site was thankfully able to "run the gauntlet" at City Hall, and get support from the Province - to get this out of the ground almost a DECADE later.

Also, worth noting that this specific site has ZERO funding from CMHC, for example -- as there is no federal funding-model from CMHC to support "Affordable Ownership" models like Habitat -

Funding Programs for New Construction and Renovation Projects | CMHC

Find out what funding or financing programs your business might be eligible for from CMHC and the National Housing Strategy.

www.cmhc-schl.gc.ca