#TorontoCouncillors; #JohnTory, #affordableownershipunits
Toronto, Jul 17 (Canadian-Media): Approvals for 893 affordable rental units, 422 mid-range purpose built rental units and 300 affordable ownership units are being considered by Toronto Councillors in the final Executive Committee meeting of the 2014-2018 term, media reports said.
After the approval of these units by the Executive Committee later today and City Council next week, for the second year in a row, City Hall will have met and exceeded its annual affordable housing target.
In total this year, City Hall will be approving 1,650 affordable housing units well beyond the 1,000 unit target.
“Past administrations had set a target of approving one thousand units of affordable housing per year but only since I took office have we started meeting and even exceeding those targets,” said Toronto Mayor John Tory. “We are making progress but we can and we must do better so we can continue to grow as a vibrant and economically competitive city.”
Last month, Tory committed to an ambitious target to approve 40,000 units over the next 12 years. Last Council meeting,
Toronto's plan was approved by the City Council and has decided to create a standing committee on housing to make sure that City Hall has a laser-like focus on housing issues and reach this new target.
“The progress we have made over this term shows that we can hit this new, more ambitious target,” said Tory. “I am committed to making sure people of all ages, all walks of life and all income levels can afford to live in Toronto.”
(Reporting by Asha Bajaj)