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The federal government announced more than $365 million to build 767 new homes in Toronto. “Our Government is providing Canadians not only with safe, affordable housing, but also with the jobs and opportunities they need, so they can strengthen and contribute to our communities. We are proud to support the creation of these new affordable housing units which will contribute to improve the overall well-being of people in Toronto,” said Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities. The project’s first phase, currently under development on an eight-acre, transit-oriented site owned by the City of Toronto at 50 Wilson Heights Boulevard, will be an integral part of a complete community, featuring new housing, a park, a childcare center, community space, and improvements to the public realm. Of the 767 new rental homes, 384 will be affordable. The design of the project also adheres to the City’s affordable housing design guidelines, ensuring compliance with minimum accessibility requirements. Access to the project and its common areas will be barrier-free, and at least 20 per cent of the units will meet accessibility standards. The property is located directly adjacent to the Wilson Subway Station, at the northwest corner of Wilson Avenue and Wilson Heights Boulevard. “Hundreds of Toronto families will soon be able to enjoy new homes at Wilson Heights. Today’s announcement will unlock hundreds of affordable homes on city land, building liveable communities close to transit. We are working together with the federal government and builders to create more homes for families,” said Toronto Mayor Olivia Chow. Funding provided for this project is as follows: $350 million in fully repayable, low interest loan from the federal government, through the Apartment Construction Loan Program (ACLP) $15.3 million from the federal government’s Affordable Housing Fund (AHF) $13.5 million from the City of Toronto (in credits for Housing Now initiative, development charge waivers and land lease payment deferral) “With shovels already in the ground and the federal government’s support, the 50 Wilson Heights Boulevard development is well on its way to bringing a new community to York Centre. Building housing is a collaborative effort and we at CreateTO take pride in our role of bridging the public and private sectors. We are grateful for the dedication and teamwork from our construction partners, the City of Toronto, and the Government of Canada,” said Vic Gupta, CEO, CreateTO. “Our Government’s critical investment in 50 Wilson Heights directly addresses Toronto’s housing needs while helping to create a vibrant, inclusive community. It’s a powerful example of how federal support and strong partnerships can deliver safe, affordable homes — now and for generations to come. Greenwin and KingSett are proud to partner with the federal government, the City of Toronto, CreateTO and Tridel for this important initiative,” said Kevin Green, president and CEO, Greenwin Corp. |
