TORONTO — The Province of Ontario has announced it is spending $600 million over the next three years on affordable and sustainable housing in Toronto, including millions more for repairs and retrofits to social housing buildings.
On May 9, Housing Minister Chris Ballard was at 26 Grenville St. — provincial land that will be unlocked to build new affordable rental units — to highlight spending that the province is undertaking.
In 2016-17, Ontario is contributing $42.9 million to the City of Toronto for repairs and retrofits to 26 social housing buildings, with funds committed by March 31, 2017 and repairs to be completed by March 31, 2018. The spending will go towards the installation of energy-efficient boilers, windows and lighting as well as the insulation of outer walls and mechanical systems, noted the provincial media statement issued May 9.
The allocations are from Ontario's Social Housing Apartment Retrofit Program.
Over the next three years, the city will receive more than $130 million in additional funding for social housing repairs through the program.
As part of Ontario's Fair Housing Plan, unlocking provincial land worth up to $100 million will enable construction of new affordable rental units in the city, with pilots at 27 Grosvenor St. and 26 Grenville St. in Toronto.
Over the next three years, Ontario will invest $2 billion dollars in affordable and sustainable housing across the province.