The provincial government says the City of Toronto will receive $60 million to encourage the construction of “complete communities that are accessible, livable, walkable, and close to transit and other services.”
Housing minister Peter Milczyn also announced the successful developers that have been selected to transform surplus provincial land in Toronto into mixed-income communities for approximately 2,150 families:
- Dream, Tricon and Kilmer Group will turn two vacant lots in the West Don Lands into mixed income rental homes for nearly 1,450 individuals and families, including retail space and a community hub.
- Canadian Real Estate Investment Trust (CREIT) and Greenwin Inc. will transform a site between Grenville and Grosvenor streets into a family-friendly mixed income community, with approximately 700 rental units, retail space and a daycare.
Each site is close to transit and employment, and will have 30 per cent of the units dedicated to affordable housing.
The funding is part of a five-year program to rebate as much as $125 million in development charges.
Last year, the provincial government said that it will partner with the City of Toronto to create new mixed-use housing on surplus provincial land in the Thistledown area, West Don Lands and near Yonge and College streets.