Council approved the 2025 Affordable Housing Capital Strategy – the updated strategy for allocating municipal, provincial and federal funding to accelerate affordable and supportive housing delivery in 2025 and 2026.
The strategy will see Ontario Priorities Housing Initiative funds and other future funding invested in the City’s non-profit affordable housing pipeline, supporting projects nearing or already under construction. The pipeline includes more than 1,500 units receiving support.
The updated strategy also outlines progress on key affordable housing initiatives, including:
- Municipal Land Strategy: 14 sites are being prepared for affordable housing as well as six sites for market housing with affordable units integrated or revenue directed to the Affordable Housing Reserve Fund
- Affordable Housing Community Improvement Plan (CIP): Up to $60.3 million in Tax Increment Equivalent Grants (TIEGs) have been approved to support 488 affordable units across eight developments
- Municipal Housing Facility By-law Expansion: The City extended property tax exemptions to all eligible non-profit and co-op housing providers
- Bill 23 Development Charge Exemptions: Agreements have been executed to reduce development costs for affordable housing units
Affordable housing is a key priority for this Term of CouncilOpens in a new tab or window and the City has expanded both investments and initiatives to support development. By the end of this term of Council, the City expects to have delivered approximately 850 new affordable housing units – more than double the number built in the previous term.
