Toronto Approves Plan for 10,800 New Homes

Toronto City Council greenlights $245M investment to fast-track affordable housing across 13 wards

Toronto is taking another significant step toward tackling its housing crisis. On Thursday, City Council approved a comprehensive plan to support the construction of more than 10,800 new homes, including nearly 4,000 affordable, supportive, and rent-controlled units across the city.

The decision follows recommendations outlined in the City’s staff report, From Concept to Construction: Creating More Homes Across the Housing Continuum. The plan allocates $245 million in capital grants, loans, and incentives to help move 39 projects from early planning to the construction phase.

What’s Included in the Plan

• $86 million in capital grant funding for 14 projects, adding over 3,200 new rental homes, including 963 affordable, supportive, and rent-geared-to-income units.

• $17 million in interest-free loans for community housing providers to complete early planning and site preparation work for 13 affordable housing projects.

• Property tax exemptions for more than 1,000 affordable and rent-controlled homes to help keep rents stable long-term.

Toronto currently has more than 230 affordable housing projects in the pipeline, with 43 already under construction. Once completed, these projects will deliver 9,500 new homes, nearly 70% of which are purpose-built rentals with affordability protections.

A Push for Greater Support from Other Governments

City officials emphasized that while Toronto is taking bold action to get homes built faster, collaboration with provincial and federal governments remains essential.

The City is asking the Province of Ontario for $596 million to unlock nearly 20,000 additional rental homes through the Purpose-built Rental Housing Incentives program. At the federal level, Toronto is calling for increased investment in Canada Mortgage and Housing Corporation (CMHC) programs to help speed up approvals and financing.

New Housing Development Office to Lead Projects

A newly established Housing Development Office (HDO) will oversee Toronto’s expanded housing portfolio. The office will manage land use, coordinate with agencies like CreateTO and Toronto Community Housing, streamline approvals, and track progress to avoid project delays.

Officials say this approach will ensure that City-owned land is prioritized for affordable housing projects and that new developments create “complete communities” with access to public services, parks, and amenities.

What City Leaders Are Saying

“Today, Toronto City Council took another bold step to create more homes in Toronto,” said Mayor Olivia Chow. “We approved actions to speed up development, invest in affordable housing and support community housing projects. This will allow us to deliver more than 10,000 new homes in Toronto.”

“The recommendations and reports adopted by City Council today are proof of the bold action the City of Toronto is taking to build more homes and support Torontonians,” added Councillor Gord Perks, Chair of the Planning and Housing Committee.

Toronto’s plan aims to move beyond promises, ensuring land, funding, and partnerships are aligned to address the city’s most pressing challenge—creating homes for residents across all income levels.

📌 Read the full City of Toronto staff report here: From Concept to Construction (PDF)

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