Toronto's ongoing housing crisis continues, despite the recent opening of registration for affordable rental units in two new buildings. While welcomed by advocates, these additions represent a mere fraction of the city's significant housing shortfall.
Two lotteries are now live, offering a total of 114 affordable rental units. Mark Richardson, technical lead at the city's HousingNowTO initiative, expressed cautious optimism. "We're delighted to see these buildings come online," he stated, "but we urgently need to create thousands more such opportunities. With only 100 units available, tens of thousands of applicants are vying for them."
Toronto has revised its housing targets upwards, aiming to deliver 65,000 rent-controlled homes by 2030 â comprising 6,500 rent-geared-to-income (RGI) units, 41,000 affordable rental units, and 17,500 rent-controlled market units. However, the city's annual report reveals a concerning disparity: the rate of housing starts and completions lags behind approvals.
Ninety affordable rental units are available via a random public draw at 223 Redpath Avenue, situated near Yonge and Eglinton. These comprise studio, one, two, and three-bedroom units ranging from 360 to 950 square feet. Monthly rents vary significantly, from £886 for a studio to £1,451 for a three-bedroom unit, with corresponding annual household income limits of £42,624 and £66,160 respectively. The application deadline is 11:59 pm on 17 November.
Separately, 24 one- and two-bedroom units will become available at 175 Oak Street in Regent Park in early 2025. Income limits here are £42,281 for a one-bedroom and £49,436 for a two-bedroom, with monthly rents at £882 and £1,032 respectively. The application deadline for these units is 11:59 pm on 13 December. Both lotteries operate on a random selection basis.
Cheryll Case, founder and executive director of CP Planning, acknowledges the slim chances of securing a unit but highlights the lottery's value. "People on waiting lists often wait years," she explained. "By the time they're selected, they may have found alternative housing. This system works remarkably well, given the immense and ever-growing demand."
Case also underscores the severity of the crisis: "The fact that households with annual incomes exceeding £60,000 are eligible demonstrates just how acute the housing crisis has become. It's not just affecting low and moderate-income earners; those on above-average incomes are also struggling."
Councillor Chris Moise, representing Toronto-Centre, welcomed the new units, stating, "We're in a housing crisis, and every additional unit is a positive step." He emphasised the city's commitment to expanding its Toronto Community Housing Corporation (TCHC) stock, particularly in Regent Park, with hundreds more units planned in the coming years.
While acknowledging the need for significantly more housing, Richardson expressed optimism about the increasing pace of unit availability. "We're seeing many Housing Now sites finally breaking ground," he noted. "Every unit, whether 90, 25, or 300, brings us closer to providing more affordable rental housing near transit." The ongoing challenge remains to bridge the substantial gap between need and supply in Toronto's fiercely competitive housing market.
