HousingNowTO
Senior Member
From today's COVER-STORY in NOVAE RES URBIS Toronto -
"While Republic is not required to include an affordable housing component within the development proposed for this site, part of the settlement agreement between Republic and the City of Toronto is that Republic will be donating one of the site’s development blocks as a community benefits contribution to the City for an affordable housing project that would accommodate at least 200 dwelling units."
Based on current total-unit stats of 7,600 units - that is a 2.6% deal for permanent affordable housing units.
That said, by donating one of the site’s development blocks as a community benefits contribution to the City -- the City could at some point in the future up-zone that block for greater density, and if Mayor Chow wants to make those lands part of her "Public Builder" program -- then that is likely what we would expect they would need to do.
"While Republic is not required to include an affordable housing component within the development proposed for this site, part of the settlement agreement between Republic and the City of Toronto is that Republic will be donating one of the site’s development blocks as a community benefits contribution to the City for an affordable housing project that would accommodate at least 200 dwelling units."
Based on current total-unit stats of 7,600 units - that is a 2.6% deal for permanent affordable housing units.
That said, by donating one of the site’s development blocks as a community benefits contribution to the City -- the City could at some point in the future up-zone that block for greater density, and if Mayor Chow wants to make those lands part of her "Public Builder" program -- then that is likely what we would expect they would need to do.