City Of Toronto Approves New Initiatives To Combat Cost Of Housing

Mike Davey/Press Release

Toronto City Council have approved three new staff-recommended initiatives aimed to battle the rising cost of housing. The initiatives include Purpose-built Rental Housing Incentives, the Rental Renovation Licence Bylaw and measures to streamline the approval process for new mid-rise buildings.

Addressing The Housing Crisis

Torontonians struggle with the housing crisis due to a lack of rental supply, lack of housing options for middle-income earners and unfair practices by landlords.

“This week, Toronto City Council approved both a new renoviction bylaw to protect tenants from bad-faith evictions, and a plan to urgently build 20,000 new purpose-built rental homes, 20 percent of which will be affordable based on income.” said Toronto Mayor Olivia Chow “A lack of affordable housing, sky high rents and the fear of renoviction is making life tough for hard working people in our city."

New Measures to Increase Housing Supply

According to the city, the measures will increase housing supply, housing choices and affordability for current and future residents.

The new measures include: 

• 7,000 New Rental Homes: The city plans to use its resources to identify and approve 7,000 new rental homes, including 5,600 purpose-built rental units and at least 1,400 affordable rental homes.

• Rental Renovation Licence Bylaw: The new bylaw aims to address renovictions, providing additional protections for tenants who face displacement due to renovations.

• Mid-Rise Building Zoning: The city will permit as-of-right heights and densities for mid-rise buildings along key avenues and in designated mixed-use areas, simplifying the development process.

  
  

The city believes this will help meet its HousingTO 2020-2030 Action Plan, which plans to deliver 65,000 new rent-controlled homes, including 41,000 affordable rental units, 6,500 rent-geared-to-income (RGI) and 17,500 rent-controlled homes.

Call for Applications

Housing providers and private partners are invited to submit applications and collaborate with the City to help accelerate the completion of new homes.

Ontario Landlords Association

The Daily Davey reached out to the Ontario Landlords Association for comment but has yet to hear back.