emphurent said:
Also wanted to note, since those more recent designs were posted, the architect has wiped any trace of this project from their social media and website. Not sure what to make of that...
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...sounds like they ran into the Great Grey Wall of Toronto. /bleh
 
emphurent said:
Also wanted to note, since those more recent designs were posted, the architect has wiped any trace of this project from their social media and website. Not sure what to make of that...
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@HousingNowTO any public thoughts on this one?
 
Northern Light said:
@HousingNowTO any public thoughts on this one?
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The Federal Liberals announced their - "new $1.5-BILLION program to build a new generation of co‑op housing" - last summer on June 6th, 2024.

Federal government launches new $1.5 billion program to build a new generation of co‑op housing - Canada.ca

Today, the federal government launched a new Co operative Housing Development Program to support a new generation of co-op housing in Canada and help make housing more affordable.
www.canada.ca www.canada.ca

Approx. ~$375-MILLION (one-quarter of the total fund) was supposed to flow in this current federal fiscal year (FY-2024/2025) which ends in 26 business days.

If they don't announce this funding deal 100% before the next Federal election gets called in mid-March, then this project does not advance in 2025.


1740446131767.png
 
HousingNowTO said:
The Federal Liberals announced their - "new $1.5-BILLION program to build a new generation of co‑op housing" - last summer on June 6th, 2024.

Federal government launches new $1.5 billion program to build a new generation of co‑op housing - Canada.ca

Today, the federal government launched a new Co operative Housing Development Program to support a new generation of co-op housing in Canada and help make housing more affordable.
www.canada.ca www.canada.ca

Approx. ~$375-MILLION (one-quarter of the total fund) was supposed to flow in this current federal fiscal year (FY-2024/2025) which ends in 26 business days.

If they don't announce this funding deal 100% before the next Federal election gets called in mid-March, then this project does not advance in 2025.


View attachment 632898
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I knew you'd have something intelligent to say....

UT.......you heard the man........

Our outgoing PM needs a legacy......kindly provide a helpful suggestion realizable before 2045

www.pm.gc.ca

Contact the Prime Minister

Right Honourable Mark Carney - Le très honorable Mark Carney
www.pm.gc.ca www.pm.gc.ca
 
Our outgoing PM already has his legacy. What we need is the funding to make this project happen and soon, with corn colours and all, to be a legacy for everyone.
 
UtakataNoAnnex said:
Our outgoing PM already has his legacy. What we need is the funding to make this project happen and soon, with corn colours and all, to be a legacy for everyone.
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I think you're missing the point.

Federal funding for this project, is required urgently or it will be deferred at least one year.

This PM, for another ~2 weeks has nothing to lose by greenlighting said funding, but if he does not, we all lose.

The reference to a legacy is simply to note this is something he can accomplish and take credit for......... and the result can happen soon, rather than in decades as high-speed-rail, may, or may not.
 
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Northern Light said:
I think you're missing the point.

Federal funding for this project, is required urgently or it will be deferred at least one year.

This PM, for another ~2 weeks has nothing to lose by greenlighting said funding, but if does not, we all lose.

The reference to a legacy is simply to note this is something he can accomplish and take credit for......... and the result can happen soon, rather than in decades as high-speed-rail, may, or may not.
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No, I get that...

...my point is that should he do it anyway, legacy or no legacy..because that would be the right thing to do, regardless.
 
Northern Light said:
I think you're missing the point.

Federal funding for this project, is required urgently or it will be deferred at least one year.

This PM, for another ~2 weeks has nothing to lose by greenlighting said funding, but if does not, we all lose.

The reference to a legacy is simply to note this is something he can accomplish and take credit for......... and the result can happen soon, rather than in decades as high-speed-rail, may, or may not.
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Conventional wisdom in the industry is that more or less every CMHC program outside the bread and butter insurance programs (MLI and maaaaybe ACLP) go bye-bye if Poilievre wins, so I might venture to say that if this doesn't get funded before the election it might never get funded.

What's interesting is that for the last couple years, it's been seen as a foregone conclusion that Poilievre would win, but if you believe the recent polling, Carney has changed that equation...

It's germane to this and many other affordable housing-related threads because almost every affordable rental project in this country relies on one of MLI or ACLP (or, now, the various Co-Op streams), as do a good chunk of the housing-related programs that various municipalities -- Toronto obviously to the greatest extent of all -- rely on other CMHC or Federal support that may also be endangered.
 
ADRM said:
Conventional wisdom in the industry is that more or less every CMHC program outside the bread and butter insurance programs (MLI and maaaaybe ACLP) go bye-bye if Poilievre wins, so I might venture to say that if this doesn't get funded before the election it might never get funded.

What's interesting is that for the last couple years, it's been seen as a foregone conclusion that Poilievre would win, but if you believe the recent polling, Carney has changed that equation...

It's germane to this and many other affordable housing-related threads because almost every affordable rental project in this country relies on one of MLI or ACLP (or, now, the various Co-Op streams), as do a good chunk of the housing-related programs that various municipalities -- Toronto obviously to the greatest extent of all -- rely on other CMHC or Federal support that may also be endangered.
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My understanding is that even today, CMHC isn't funding anything but freehold. Period. Lots of people who are relying on that financing in their underwriting are now getting told otherwise so essentially all of the affordable components of projects secured in the last half decade or so through zoning incentives, won't be guaranteed. And this is today, pre-election...
 
ProjectEnd said:
My understanding is that even today, CMHC isn't funding anything but freehold. Period. Lots of people who are relying on that financing in their underwriting are now getting told otherwise so essentially all of the affordable components of projects secured in the last half decade or so through zoning incentives, won't be guaranteed. And this is today, pre-election...
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If that's the case....... and I don't doubt ya........ that is so not acceptable.

I intervened previously on this file to make sure projects would get supported and I got some assurances from very high up.

I will obviously have to follow up.
 
Northern Light said:
If that's the case....... and I don't doubt ya........ that is so not acceptable.

I intervened previously on this file to make sure projects would get supported and I got some assurances from very high up.

I will obviously have to follow up.
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Please.We need far more of this type of urban development
.
 
ProjectEnd said:
My understanding is that even today, CMHC isn't funding anything but freehold. Period. Lots of people who are relying on that financing in their underwriting are now getting told otherwise so essentially all of the affordable components of projects secured in the last half decade or so through zoning incentives, won't be guaranteed. And this is today, pre-election...
Click to expand...
It's a little less severe than that (but not by much) -- there is definitely a wheat-from-chaff separating process going on at CMHC right now, and I do think they're being a little bit unforgiving in those assessments, but they are still moving with builders that are more frequent customers of CMHC (including but limited to those on the Frequent Builders List).

The other thing that is happening, though, is that the 2025 allocations for ACLP are already spoken for, which is news to a lot of folks in the industry who have been underwriting to that program. Apparently 2026 allocations are also nearly done, so, yeah...
 
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