Feb 4, 2020

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June 7th
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Some updates from earlier this year, as I catch up on my TCHC agendas!

From the April 27 meeting; some changes are pending to the overall Masterplan.

A change in phasing:

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Also TDSB appears to be having second thoughts on the redevelopment scheme for its property:

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Also, it appears there will be some additional affordable units in a later phase.

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Undead said:
I' m curious - why is the timeline so long for this project?
Click to expand...

It covers 100 acres of land would be the biggest answer.

Followed by the fact that there are people currently housed on site who have to be relocated before each phase can move ahead.

Also, because of the sheer size, the decision was that it was too much risk to take, for, or with a development partner all in one go.

Hence the bite-sized pieces (phases).

But in breaking it up, each phase requires a new RFP process.
 
Proposal calls for adding 230 affordable housing units to Lawrence Heights renewal

Oct. 16, 2020

A new proposal for the multi-decade revitalization of Lawrence Heights could see 230 new affordable rental units added over the next 17 years at an estimated cost of more than $90 million, with some city officials pushing for even more units to be added.

The initial development proposal for phases two and three of the four-phase Lawrence Heights project was released this week, calling for 130 affordable units to be built in those phases and another 100 in the fourth phase.

A confidential cost estimate that says those 230 affordable units could bring the project’s shortfall — their costs less anticipated market proceeds — to $130 million from about $38 million without them.

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Abi Bond, executive director of Toronto’s housing secretariat, said the new proposal aligns with the city’s 10-year goal of creating 40,000 new affordable homes.

“Big picture, it’s the city looking at the ways we can use our land most effectively to get as close to those goals as possible,” said Bond.

The plan for the next two phases may change considerably between now and final approval after a developer is selected, Bond cautioned. She’d like to see more affordable units than 230, and noted that they’d be asking for funding from both Ottawa and Queen’s Park.

The idea was to allow a diverse mix of incomes in the neighbourhood — “not just maybe people who can afford a condominium, or people who have a low income and need (rent-geared-to-income) units.”

The new proposal estimates that the second and third phases will cost the city approximately $221.6 million over a 13-year period beginning in 2023, plus average annual funding of roughly $17.8 million.

If Lawrence Heights were not overhauled, it would cost TCHC an estimated $51 million over 10 years to maintain the existing buidlings

An estimate provided confidentially to the city’s housing committee members for next week’s meeting pegged the cost of affordable housing at roughly $400,000 per unit. That adds up to a $130-million shortfall for Lawrence Heights by the end of phase four if all 230 affordable units are built, when also factoring in infrastructure costs and the replacement rent-geared-to-income units.

Without the affordable units, the project’s shortfall would be roughly $38 million by the fourth phase.
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www.thestar.com

Proposal calls for adding 230 affordable housing units to Lawrence Heights renewal

The proposal, which could end up costing more than $90 million, aligns with the city’s 10-year goal of creating 40,000 new affordable homes.
www.thestar.com www.thestar.com
 
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