Toronto Mayor Olivia Chow has unveiled a significant step forward in her initiative to address Toronto's housing crisis. She aims to construct an additional 25,000 affordable rental homes, surpassing the existing city plans. The proposal has gained support from the city's executive committee.
Chow's strategy involves collaborating with various city agencies and corporations to develop a fresh plan for public and community housing construction. With Toronto currently facing an unprecedented housing crisis, increasing housing availability has become the mayor's top priority.
The motion outlines revised housing targets, which encompass the addition of 7,500 affordable homes. Among these, 2,500 units would be dedicated to new rent-geared-to-income housing. Additionally, a new goal of 17,500 rent-controlled homes has been set.
The upcoming city council session will deliberate on the motion, slated for early next month. The motion requests that city staff present a report by year-end, detailing progress in aligning the city's resources and identifying suitable land parcels for the proposed homes.
Mayor Chow's successful election campaign prominently featured her commitment to revitalizing public housing construction, aiming to counterbalance the role of the private sector in this endeavor.
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