The Provincial Government has just unlocked 4 government owned lots for future affordable housing projects, making good on their promises outlined in the Ontario Fair Housing Plan.
(Source: Google Maps - Edited by The Dynasty Group)
Two parcels are located in the West Donlands area of Toronto and the other two lots located near Bay and College Streets.
These rental units encompass an estimated 2000 new apartments with up to 600 of them being affordable with the rest being just below or at market rent. It's hoped that building will begin as early as April/2018 thanks to Toronto's new Open Door Affordable Housing Policy, which provides rebates and incentives for builders as well as fast-tracking through approval processes.
This will be the first time the City of Toronto has met or exceeded its annual target of 1000 new affordable housing units.
Source: The Toronto Star