Toronto Council Approves Bold Initiatives to Tackle Housing Crisis

Toronto – In a decisive move to address Toronto’s ongoing housing crisis, City Council has approved three key initiatives aimed at increasing the supply of affordable rental housing and protecting tenants from unfair practices like renovictions. These measures are part of the City’s commitment to ensuring housing affordability and accessibility for residents of all income levels and backgrounds.

New Measures to Boost Housing Supply

Toronto’s ambitious plan includes:

• Accelerating rental housing development: The City has identified 7,000 new rental units for immediate approval, including 5,600 purpose-built rentals and at least 1,400 affordable rental homes.
• Introducing a Rental Renovation Licence Bylaw: This regulation aims to curb renovictions, where tenants are displaced under the guise of renovations.
• Allowing mid-rise buildings by right: The City will permit as-of-right heights and densities for mid-rise developments along avenues and designated mixed-use areas to expedite housing creation.

These initiatives align with the City’s HousingTO 2020-2030 Action Plan, which seeks to deliver 65,000 new rent-controlled homes, including 41,000 affordable rentals, 6,500 rent-geared-to-income (RGI) units, and 17,500 rent-controlled homes.

This week, City Council approved the Purpose-Built Rental Housing Incentives Stream under the Rental Housing Supply Program. The City aims to unlock 20,000 new purpose-built rental homes, with at least 20% designated as affordable rental homes.

The City will kick-start the first… pic.twitter.com/FyPSk3m2QP

— City of Toronto (@cityoftoronto) November 15, 2024

A Collaborative Approach

To meet its ambitious targets, the City is calling on community housing providers and private developers to participate in these programs. The collaboration aims to bring new homes to completion faster, addressing the critical housing shortage and high rents that have left many middle-income earners without viable options.

Protecting Tenants

The newly approved Rental Renovation Licence Bylaw is a significant step toward safeguarding tenants. It ensures that landlords adhere to strict rules during renovations, preventing bad-faith evictions that have become a growing concern in the city.

Leadership Speaks

Mayor Olivia Chow emphasized the urgency of these measures, highlighting the challenges faced by residents.

“A lack of affordable housing, sky-high rents and the fear of renoviction is making life tough for hard-working people in our city,” Chow stated. “This week, Toronto City Council approved both a new renoviction bylaw to protect tenants from bad-faith evictions, and a plan to urgently build 20,000 new purpose-built rental homes, 20 per cent of which will be affordable based on income. This is a great step forward, but we must remain laser-focused on making sure more people in our city can have a safe, and affordable place to call home.”

Next Steps

The City is providing more details on these initiatives, including application processes for community housing providers and developers, at toronto.ca/rentalsupply. Information on the new Rental Renovation Licence Bylaw and landlord compliance requirements is available at toronto.ca/renoviction.

As Toronto moves forward with these transformative housing policies, the initiatives mark a pivotal moment in addressing the city’s housing crisis and ensuring affordability for current and future residents.