Former Chair of the Housing and Planning Committee, Ana Bailao, and current Chair, Brad Bradford, have gotten Toronto into a very bad housing deal.
The City of Toronto is putting up $1.3-billion in land value, plus millions of dollars in development charge credits, with a promise that roughly 4,000, semi-affordable, units would be built.
That’s not what happened:
- No affordable homes have been built under Housing Now since it was approved by Council in 2019. That is right, the number is zero!
- If we approve the next step of this deal at the next Council meeting, we are years away from any housing actually being built
- The cancellation of development charges means the City would have to put in millions of dollars of its own money to proceed
Bad deals such as this one have brought Toronto to the situation we are in – unable to build affordable housing.
As Mayor, I will negotiate better deals for affordable housing for Torontonians, which will build affordable housing faster.