Toronto approves the $23.4 billion HousingTO 2020-2030 Action Plan Image

Toronto approves the $23.4 billion HousingTO 2020-2030 Action Plan

By Newinhomes on Dec 19, 2019

It looks like the City of Toronto is planning on starting the next decade on a high note with the approval of the ambitious (and pricey) HousingTO 2020-2030 Action Plan. 

HousingTO will combat homelessness, and improve social housing, affordable rental housing, long-term care housing, and homeownership in Toronto. There are 76 total actions, and the estimated cost is $23.4 billion. 

The City has committed $8.5 billion to the HousingTO plan, and the other $14.9 billion will have to come from the provincial and federal government. From what we can tell, this funding from the higher levels of government has not been allocated yet. 

"We know it is critical for the future of our rapidly growing city that people from all income levels have a place to call home,” said Mayor John Tory, in a release. “The HousingTO 2020-2030 Action Plan provides a critically important path forward – it will ensure the City is taking action to get more affordable housing built and leading the charge to make sure all governments are focused on housing as a right for people.” 

“The City’s commitment is $8.5 billion towards this $23.4 billion plan. I will be working hard with the other orders of government to ensure the entire plan is fully funded,” Tory added. “In particular, the HousingTO 2020-2030 Action Plan calls on the federal government to enhance and extend efforts under the National Housing Strategy and calls on the provincial government to commit to increasing income supports and supportive housing options to vulnerable people. This has to be a priority – we have to come together to support households who are struggling to pay the rent and keep, or put a roof over their heads. I look forward to building on this strong foundation of working together."

A quarter of the new affordable rental and supportive housing created through HousingTO will be dedicated to women and girls, including female-led households, amounting to approximately 10,000 units. 

The plan will also prevent 10,000 evictions for low-income households, improve affordability for 40,000 households, and help more than 10,000 seniors remain in their homes or transition to long-term care.  

"The HousingTO 2020-2030 Action Plan is a people-centred plan that identifies real actions to effectively address the very real challenges we are facing,” said Deputy Mayor Ana Bailão (Ward 9 Davenport), Chair of the Planning and Housing Committee. “It recognises that Toronto is a place where families and individuals deserve to live in safe, well-maintained and affordable housing – and demonstrates that providing this will create opportunities to succeed. Housing everyone is good for everyone and the HousingTO Plan will bring positive change and real outcomes for Toronto residents."

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