The white building at the corner is the most prominent and also looks the cheapest. Really not a fan of how it turned out. : /
The windows especially look tinny and cheap and the glass is too green.
 
I'm just guessing, but that's roughly the going rate these days, and there is not much new construction in the Annex to compare it to, thanks to the NIMBYs there.
Fair. Fwiw, there are some 3-bedroom units on and around Walmer in the $2,700-3000 range (If you can get one!) -- they're quite large but typically don't include parking, in-suite laundry or more than one bathroom.

Anyhow, let's see how Mirvish shakes out.
 
Fair. Fwiw, there are some 3-bedroom units on and around Walmer in the $2,700-3000 range (If you can get one!) -- they're quite large but typically don't include parking, in-suite laundry or more than one bathroom.

Anyhow, let's see how Mirvish shakes out.
Those Rents would be in old 1960's and 1970's apartment buildings on Walmer, right..?

Here is a slide on the RENT PER SQUARE FOOT that we used the other week when we did a webinar for FoSTRA (Federation of South Toronto Residents Associations) on "New Build Affordable Housing in Toronto (2023)".

The math isn't much fun - but it is an accurate representation of 2023 reality - and gives you some insight into just how much of a recurring Rent-Subsidy any net new Social / RGI unit would need to get to cover the spread between their build and operating costs - and the rents that they can carry.

1675723202247.png
 
I think it's about $497 is the max allowance for rent for folks living under ODSP. Less for those under OW I believe. So the 1-Bedroom deal isn't as bad under the RGI column for those on provincial disability. Not so great for those under general welfare. And for what that's worth.
 
I think it's about $497 is the max allowance for rent for folks living under ODSP. Less for those under OW I believe. So the 1-Bedroom deal isn't as bad under the RGI column for those on provincial disability. Not so great for those under general welfare. And for what that's worth.
I'm on ODSP $488 a month due to me working and these mirvish village condos are within my monthly income range and I have applied for a studio unit on their site.
 
I'm on ODSP $488 a month due to me working and these mirvish village condos are within my monthly income range and I have applied for a studio unit on their site.
I remember when I was at one of those public presenetation for this project where the devs where talking about providing some sort of assemblance of affordable housing, even for those on a fixed incomes. I am very pleased that Westbank stuck with their word on this. And I wish more developments did this...as it is desperately needed.
 
Fair. Fwiw, there are some 3-bedroom units on and around Walmer in the $2,700-3000 range (If you can get one!) -- they're quite large but typically don't include parking, in-suite laundry or more than one bathroom.

Anyhow, let's see how Mirvish shakes out.
I used to live on Walmer! You can probably find stuff in that range at 666 Spadina as well. But those are all older buildings without laundry, dishwasher, parking, etc. I don't know if the number is $4500. It might be $4200. But it's certainly not $3500.
 
I used to live on Walmer! You can probably find stuff in that range at 666 Spadina as well. But those are all older buildings without laundry, dishwasher, parking, etc. I don't know if the number is $4500. It might be $4200. But it's certainly not $3500.
The mirvish village rental apartments which will be new will have laundry stacked washer and dryer unit, dishwasher etc like the new condos.
 
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Those Rents would be in old 1960's and 1970's apartment buildings on Walmer, right..?

Here is a slide on the RENT PER SQUARE FOOT that we used the other week when we did a webinar for FoSTRA (Federation of South Toronto Residents Associations) on "New Build Affordable Housing in Toronto (2023)".

The math isn't much fun - but it is an accurate representation of 2023 reality - and gives you some insight into just how much of a recurring Rent-Subsidy any net new Social / RGI unit would need to get to cover the spread between their build and operating costs - and the rents that they can carry.

View attachment 454557
Correct, they're all old(er) buildings! Judging by photographs, many of them have been upgraded in the last 5-10 years.

Cool, thanks for sharing this slide. Where does Mirvish fit -- between the $2-3 psf columns?
 
Correct, they're all old(er) buildings! Judging by photographs, many of them have been upgraded in the last 5-10 years.

Cool, thanks for sharing this slide. Where does Mirvish fit -- between the $2-3 psf columns?
1675776411068.png

Yes, at Mirvish - the Housing Lottery units are in that $2 - $3 "dollars per square foot" rents.

The STUDIO units are around ~$3 per sq. ft.

The 1, 2 & 3 Bedroom units are closer to ~$2 per sq. ft.

That is because the "fixed costs" per unit (eg. Kitchen, Bathroom, per unit fees, etc) are pretty much the same between the Studios and the 1-Bedrooms, the extra square footage are a marginal extra cost when you compare unit-to-unit.
 
I think it's about $497 is the max allowance for rent for folks living under ODSP. Less for those under OW I believe. So the 1-Bedroom deal isn't as bad under the RGI column for those on provincial disability. Not so great for those under general welfare. And for what that's worth.
"RGI / Social Housing" rents in TCHC buildings can be well below $1 per square foot - which doesn't begin to cover much of the operating and state-of-good repair costs on the unit in 2023. That's why it is sometimes called "Subsidized Housing".

In this City of Toronto slide, that OW family example is a 2 or 3-Bedroom renting for $226 / Month. Which leaves a huge gap (~$1,500+ per month) on that unit that needs to be covered by Government to maintain operations and state-of-good repair.

1675777162798.png
 

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