The provincial government says that will be seeking a developer to turn several provincially-owned Toronto sites into new mixed-income housing.
The goal will be to create 2,000 new housing units.
The sites include:
- A lot in the West Don Lands, south of Front St, between Trinity and Cherry St.;
- a lot in the West Don Lands, east of Cherry St. and north of the rail line; and
- 27 Grosvenor St. and 26 Grenville St., which is currently a multi-level parking structure and the two-story former Provincial Coroner’s Office.
The government says in a news release that it is leveraging the value of this land to develop new rental and affordable housing units for individuals and families in Toronto.
“This will pave the way for strong neighbourhoods that will feature both market and affordable rental housing, including much-needed family-sized units, with up to 30 per cent of the units earmarked for affordable housing,” the announcement said.
The government announcement says the pilot program is one of 16 comprehensive measures under Ontario’s Fair Housing Plan “that are bringing stability to the real estate market, protecting the investments of home owners, and ensuring that more people are able to find a home that fits their budget.”